A Critical Comparison of the Main Compensation Mechanism for Victims of Natural Catastrophes in Belgium and the Netherlands. With a Law and Economics Twist

Abstract

AbstractThe yearly increase in the number of natural catastrophes is tangible and most probably to persist. It is therefore necessary to build a legal framework that can respond timely and efficiently to events of this scale by formulating a structural, comprehensive and efficient compensation model. This article aims, first, at giving policymakers and legal scholars some clear starting points for setting up such a compensation model to the victims of a natural catastrophe. The article will, second, sketch the compensation systems in Belgium and the Netherlands, discussing only the main compensation regime specifically designed for victims of natural catastrophes. Third and finally, these two systems will be compared using the insights from the economic analysis of law.