Download or read book Insurance Availability in Communities at Risk of Natural Disaster written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Credit and Insurance and published by . This book was released on 1994 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Paying the Price written by Richard J. Roth, Sr. and published by Joseph Henry Press. This book was released on 1998-07-09 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the effectiveness of insurance coverage for low-probability, high-consequence events such as natural disastersâ€"and how insurance programs can successfully be used with other policy tools, such as building codes and standards, to encourage effective loss reduction measures. The authors discuss the reasons for the dramatic increase in insured losses from natural disasters since 1989 and the concern that insurers have about their ability to provide coverage against more such events in the future. It addresses why there has been an increasing demand for hazards insurance, what types of coverage private insurers are willing to offer, and the role of reinsurance and private-/public-sector initiatives at the state and federal levels for providing protection to victims of natural disasters. Detailed case studies of the challenges facing Florida in the wake of Hurricane Andrew in 1992 and California following the Northridge earthquake in 1994 reveal the challenges facing the insurance industry as well as other concerned stakeholders. The National Flood Insurance Program illustrates how a public-/private-sector partnership can mitigate damages and provide financial protection to victims. The book identifies new initiatives for reducing future losses and providing funds for recovery through cooperation by the relevant parties.
Download or read book The Availability of Insurance in Areas at Risk of Natural Disasters written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Credit and Insurance and published by . This book was released on 1994 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Growing Threat of Natural Disasters and the Impact on Homeowners Insurance Availability written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 1999 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Homeowners Insurance Availability in Disaster Prone Areas written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 1997 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book National Policy Approaches to the Lack of Available Homeowners Insurance in Disaster prone Areas written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 1997 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Crisis of Homeowners Insurance Availability in Disaster prone Areas written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 1999 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Community Based Flood Insurance Option written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2015-10-08 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: River and coastal floods are among the nation's most costly natural disasters. One component in the nation's approach to managing flood risk is availability of flood insurance policies, which are offered on an individual basis primarily through the National Flood Insurance Program (NFIP). Established in 1968, the NFIP is overseen by the Federal Emergency Management Agency (FEMA) and there are about 5.4 million individual policies in the NFIP. The program has experienced a mixture of successes and persistent challenges. Successes include a large number of policy holders, the insurance of approximately $1.3 trillion of property, and the fact that the large majority of policy holders - 80% - pay rates that are risk based. NFIP challenges include large program debt, relatively low rates of purchase in many flood-prone areas, a host of issues regarding affordability of premiums, ensuring that premiums collected cover payouts and administrative fees, and a large number of properties that experience severe repetitive flood losses. At the request of FEMA, A Community-Based Flood Insurance Option identifies a range of key issues and questions that would merit consideration and further analysis as part of a community-based flood insurance program. As the report describes, the community-based option certainly offers potential benefits, such as the prospect of providing coverage for all (or nearly all) at-risk residents and properties in flood-prone communities. At the same time, many current challenges facing the NFIP may not necessarily be resolved by a community-based approach. This report discusses these and other prominent issues to be considered and further assessed.
Download or read book An Examination of the Availability and Affordability of Property and Casualty Insurance in the Gulf Coast and Other Coastal Regions written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2009 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Catastrophe Insurance written by Martin F. Grace and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. THE PROBLEM OF CATASTROPHE RISK The risk of large losses from natural disasters in the U.S. has significantly increased in recent years, straining private insurance markets and creating troublesome problems for disaster-prone areas. The threat of mega-catastrophes resulting from intense hurricanes or earthquakes striking major population centers has dramatically altered the insurance environment. Estimates of probable maximum losses (PMLs) to insurers from a mega catastrophe striking the U.S. range up to $100 billion depending on the location and intensity of the event (Applied Insurance Research, 2001).1 A severe disaster could have a significant financial impact on the industry (Cummins, Doherty, and Lo, 2002; Insurance Services Office, 1996a). Estimates of industry gross losses from the terrorist attack on September 11, 2001 range from $30 billion to $50 billion, and the attack's effect on insurance markets underscores the need to understand the dynamics of the supply of and the demand for insurance against extreme events, including natural disasters. Increased catastrophe risk poses difficult challenges for insurers, reinsurers, property owners and public officials (Kleindorfer and Kunreuther, 1999). The fundamental dilemma concerns insurers' ability to handle low-probability, high-consequence (LPHC) events, which generates a host of interrelated issues with respect to how the risk of such events are 1 These probable maximum loss (PML) estimates are based on a SOD-year "return" period.
Download or read book S 1043 Natural Disaster Protection and Insurance Act of 1996 written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation and published by . This book was released on 1996 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Policy Issues in Insurance Catastrophic Risks and Insurance written by OECD and published by OECD Publishing. This book was released on 2005-07-06 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: These conference proceedings present academic analysis, country reports, and financial/insurance company assessments on how to handle losses caused by large-scale catastrophes including terrorism and atmospheric perils.
Download or read book Insurance Systems in Times of Climate Change written by Cornel Quinto and published by Springer Science & Business Media. This book was released on 2011-10-22 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural disasters such as large-scale flooding are on the increase. Climate change directly affects our basis of existence. This includes residential buildings, and commercial and industrial properties. The author highlights the requirements that will have to be met by a protection system for buildings in the future. Insurance against natural hazards lies at the heart of such a system. The insurance systems of Germany, France, Spain, Switzerland and the USA are presented. The author explains what type of insurance system is best suited to meet the challenge of climate change. The starting point of the legal section is statutory insurance with a monopoly. The question of whether such insurance is compatible with Swiss and EU law is examined. Keywords in this respect are economic freedom, competition, services of general interest and universal service.
Download or read book Rapid Onset Natural Disasters written by Eugene Gurenko and published by World Bank Publications. This book was released on 2004 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gurenko and Lester provide a conceptual framework for designing a comprehensive risk management strategy for rapid onset natural disasters at the country level, with a particular emphasis on the role of catastrophe loss funding. The authors discuss the key policy and technical issues involved in building financially sustainable catastrophe risk transfer and funding programs in disaster prone countries and their links to risk mitigation. They also deal with the cognitive and political economy issues that are likely to arise and ways to accommodate them. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to develop modern risk management approaches at the country level.
Download or read book Federal Reinsurance for Disasters written by David Torregrosa and published by Government Printing Office. This book was released on 2002 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: A CBO Study. Analyzes proposals for federal reinsurance of risks from terrorism and natural disasters. Policymakers have developed two types of federal proposals to increase the supply of property and casualty insurance. Under one set of options, which was created following Hurricane Andrew in August 1992 and the Northridge earthquake in January 1994, the federal government would auction reinsurance contracts to primary insurance companies and state-sponsored insurers. Reinsurance is an established practice among private insurers. By buying reinsurance, primary insurers spread the risk of loss more widely and strengthen their ability to insure against catastrophes. The intent of those proposals is to offer federal reinsurance when coverage is in short supply, at market prices that are expected to cover the government’s costs. By contrast, under proposals developed since September 11, the government would pay for most losses from a terrorist attack directly, without reimbursement or with only partial reimbursement. Even though one type of proposal was created in response to natural disasters and the other from an act of terrorism, both types could be considered viable alternatives, whatever the source of catastrophic loss. A key consideration in Congressional deliberations about disaster reinsurance is how the property and casualty industry would respond without federal intervention. That is, would the private supply of insurance rebound quickly? A fast recovery would counter a potential slowdown in construction, an industry in which insurance is often required for financing. Alternatively, is the risk of terrorism uninsurable, such that supply could not recover without the government’s assistance? Furthermore, given that the Congress may need to act without fully understanding the industry’s ability to respond, are there policies that could avoid undermining private activity while providing a backstop to private efforts if they proved inadequate? How much would such policies cost taxpayers and the government? This Congressional Budget Office (CBO) study examines the market for property and casualty insurance; the market’s response to recent large, unanticipated losses; and policies that the Congress is considering to increase the availability of insurance. Related items: Ready... Set... Prepare: A Disaster Preparedness Activity Book for Ages 4 to 7 is available at GPO here: https://bookstore.gpo.gov/products/sku/064-000-00056-0 Ready...Set...Prepare: A Disaster Preparedness Activity Book for Ages 8 to 11 is available at GPO here: https://bookstore.gpo.gov/products/sku/064-000-00057-8 Are You Ready?: An In-Depth Guide to Citizen Preparedness is available at GPO here: https://bookstore.gpo.gov/products/sku/064-000-00058-6 Taking Shelter From the Storm: Building a Safe Room for Your Home or Small Business; Includes Construction Plans (CD) can be found here: https://bookstore.gpo.gov/products/sku/064-000-00069-1?ctid=528 Rapid Visual Screening of Buildings for Potential Seismic Hazards: A Hanbook is available here: https://bookstore.gpo.gov/products/sku/064-000-00060-8 Disaster Preparedness collection is available at GPO here: https://bookstore.gpo.gov/catalog/disaster-preparedness Natural & Environmental Disasters collection is available at GPO here: https://bookstore.gpo.gov/catalog/natural-environmental-disasters
Download or read book H R 21 the Homeowners Insurance Availability Act of 1999 written by United States. Congress. House. Committee on Banking and Financial Services and published by . This book was released on 2000 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Disaster Insurance Protection written by Howard Kunreuther and published by John Wiley & Sons. This book was released on 1978 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
