| Document Type
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BL
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| Record Number
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1006199
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b760569
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| Main Entry
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Cummins, J. David.
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| Title & Author
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Catastrophe risk financing in developing countries : : principles for public intervention /\ J. David Cummins and Olivier Mahul.
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| Publication Statement
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Washington, D.C. :: World Bank,, ©2009.
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| Page. NO
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1 online resource (xxiv, 268 pages) :: illustrations
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| ISBN
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082137737X
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: 9780821377376
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0821377361
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9780821377369
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| Bibliographies/Indexes
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Includes bibliographical references and index.
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| Contents
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Contents -- Foreword -- Acknowledgments -- Abbreviations -- Glossary -- Overview -- Toward a Country Catastrophe Risk Financing Framework -- Why Should Donors Intervene in Catastrophe Risk Markets? -- How Should Donors Intervene in Catastrophe Risk Markets? -- What Roles for the Donor Community? -- 1. Introduction -- Cost of Natural Disasters in Developing Countries -- Proactive Country Disaster Risk Management -- Toward a Country Catastrophe Risk Financing Framework -- Objectives -- 2. Market Imperfections and Catastrophe Insurance
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Appendix 9. CAT Bonds and Other Risk-Linked Securities: State of the Market and Recent DevelopmentsIntroduction -- The Structure of Risk-Linked Securities -- The Risk-Linked Securities Market -- Conclusion -- Notes -- References -- Appendix 10. Catastrophe Reinsurance Pricing -- Introduction -- The Mean-Variance Model -- A More Realistic Actuarial Model -- Reinsurer�s Target Economic Return -- Numerical Illustration -- Notes -- References -- Index -- Boxes -- Box 1.1 GFDRR Financial and Technical Assistance
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Basic Features of Catastrophe Insurance MarketsDemand-Driven Market Imperfections -- Supply-Driven Market Imperfections -- Are Prices of Catastrophe Risk Transfer Instruments Excessive? -- Summary: Insurance Markets and Market Imperfections -- Notes -- 3. Principles for Public Intervention in the Catastrophe Insurance Markets -- Risks of Public Intervention in Catastrophe Insurance Markets -- Guiding Principles for Market Intervention -- Notes -- 4. Roles for the Donor Community -- Convening Power -- Promoter of Public Goods
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Property Catastrophe Insurance Programs for HomeownersAgricultural Insurance Programs -- Sovereign Risk Financing -- Notes -- References -- Appendix 6. Prototype Weather-Based Crop Insurance Policy -- Appendix 7. Commercial Catastrophe Risk Models -- Appendix 8. Review of the Catastrophe Reinsurance Market -- Introduction -- The Role of Reinsurance -- The Global Market for Reinsurance -- Insurance and Reinsurance Market Response to Mega-Catastrophes -- Conclusion -- Notes -- References
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Provider of Technical Assistance for Innovative Catastrophe Risk Financing SolutionsFinancier -- References -- Appendixes -- Appendix 1. World Bank List of Economies -- Appendix 2. Reference Catastrophe Losses -- Appendix 3. Catastrophe Risk Modeling -- Introduction: Using Modeling to Manage Risk -- Methodology -- Risk Metrics -- Appendix 4. Catastrophe Risk Financing Projects Supported by the World Bank and Donors -- Appendix 5. Some Recent Catastrophe Risk Financing Initiatives Supported by the World Bank and Donors
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| Abstract
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Public intervention in catastrophe insurance markets, supported by the donor community and the World Bank, should be country specific. Low-income countries, where the domestic non-life insurance market is undeveloped, should focus in the short term on the development of sovereign catastrophe insurance solutions and the promotion of public goods related to risk market infrastructure. These countries are usually not mature enough for the promotion of catastrophe insurance pools for private homeowners. Middle-income countries, where the domestic non-life insurance market is more developed, should help the private insurance industry offer market-based catastrophe insurance solutions to homeowners and to small and medium enterprises, including the agricultural sector. This book offers a framework, with lessons drawn from recent experience, guiding principles for public intervention and potential roles for donors and International Financial Institutions (IFIs). These lessons are expected to be used in developing affordable, effective and sustainable country-specific catastrophe insurance programs.
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| Subject
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Economic assistance-- Developing countries.
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Finance, Public-- Developing countries.
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Natural disasters-- Developing countries-- Finance.
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Risk (Insurance)-- Developing countries.
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BUSINESS ECONOMICS-- Public Finance.
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Economic assistance.
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Finance, Public.
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Natural disasters-- Finance.
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Risk (Insurance)
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Developing countries.
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| Dewey Classification
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336.091724 22
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| LC Classification
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HJ1620.C86 2009eb
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| Added Entry
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Mahul, Olivier.
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