Insurance Against Extreme Weather Events: An Overview-Reference-Cited by-同舟云学术

Insurance Against Extreme Weather Events: An Overview

Published:2021-08-01 Issue:2 Volume:72 Page:71-95
ISSN:0948-5139
Container-title:Review of Economics
language:en
Short-container-title:

Author:

Kraehnert Kati¹^ORCID,Osberghaus Daniel²^ORCID,Hott Christian³,Habtemariam Lemlem Teklegiorgis¹,Wätzold Frank⁴,Hecker Lutz Philip⁴,Fluhrer Svenja¹

Affiliation:

1. Potsdam Institute for Climate Impact Research (PIK) , Member of the Leibniz Association, 14412 Potsdam , Germany

2. ZEW – Leibniz Centre for European Economic Research , Mannheim , Germany

3. Helmut Schmidt University , Hamburg , Germany

4. Brandenburg University of Technology Cottbus–Senftenberg , Cottbus , Germany

Abstract

Abstract Extreme weather events increasingly threaten the economic situation of households and enterprises around the world. Insurance against extreme weather events is among the climate change adaptation instruments that are currently discussed by the policy community. This overview paper provides a synopsis of the state of research on insurance against extreme weather events, outlining advantages and limitations inherent in three main types of insurance: indemnity-based insurance, index-based insurance, and insurance-linked securities. The paper discusses issues related to insurance uptake, distributional effects, misleading incentives and potentially negative side effects, as well as the role of the state.

Publisher

Walter de Gruyter GmbH

Subject

General Economics, Econometrics and Finance

Link

https://www.degruyter.com/document/doi/10.1515/roe-2021-0024/pdf

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