Citation

Berz G. Nat. Hazards 1994; 9(3): 323-332.

Copyright

(Copyright © 1994, Holtzbrinck Springer Nature Publishing Group)

DOI

10.1007/BF00690744

PMID

unavailable

Abstract

Insurance, as a financial hedge against loss, is closely concerned with the problems presented by natural disasters. In many insurance markets, natural perils are covered to a greater or lesser extent by property insurance and various other branches of insurance. This entails making a close study of such perils in order that the premium requirements on the one hand and the loss potential on the other may be correctly estimated. To that end, insurers can draw upon extensive loss data and analyses from all parts of the world. Insurance has an appreciable influence on the behaviour of the public and of industry in the matter of preparedness. By making the right use of the tools of insurance technique, especially deductibles, the insured can be motivated to take preventive measures. After a disaster, the insurance industry gives swift financial help and has, for the most part, an efficient loss settlement organization at its disposal for the purpose. There are many fields of activity in which cooperation between IDNDR and the insurance industry would seem worthwhile. These include, for example: The listing and mapping of danger zones; The assessment of loss potential for disaster scenarios; Recommendations for regulations or restrictions on land use; Recommendations for standard building regulations, The promotion and use of prediction and warning services; The listing of competent institutions and experts; Information and motivation of the public; Proposals for standardized recording and analysis of losses.

Language: en