regional-level mitigation or adaptation, which reduces disaster risks to capital in the interim. Mitigation depends on belief … regarding the adverse consequences of global warming. Pessimism jumps with a disaster and slowly reverts in the absence of … increasing cyclone frequency. For a typical country exposed to cyclones, a disaster arrival not only damages its capital stock …

How do innovators respond to the shock of a natural disaster? Do natural disasters spur technical innovations that can …, droughts and flooding on the innovation of their respective mitigation technologies. Using patent and disaster data, our study …

pre-disaster trend, and do not recover within twenty years. Both rich and poor countries exhibit this response, with … suppression of annual growth rates spread across the fifteen years following disaster, generating large and significant cumulative … continuous exposure to disaster. Linking these results to projections of future cyclone activity, we estimate that under …

which a disaster insurance program should be based. Section 3 then focuses on the second question by analyzing the …. Section 4 turns to the third question and delineates the opportunities and challenges of a comprehensive disaster insurance … program. Section 5 poses a set of open issues that are currently being addressed by a research project on disaster insurance …

This paper examines the optimal design of insurance and reinsurance policies. We first consider reinsurance for … threaten the solvency of re- insurance such as a major earthquake, while others derive from common risks-changes in conditions …. Premium risk emerges as an important part of risk, which reinsurance and primary insurance markets do not adequately diversify.quot …

use CAT bonds for insurance only if the cost of issuing these bonds were significantly smaller than it is in the data. The … welfare gains from CAT bonds range from small to substantial depending on how insurance affects the country's external …

This study examines the effect of experience and knowledge on weather insurance adoption. First, we conduct insurance … games with farmers, and find that the treatment improves real insurance take-up by 46%. The effect is not driven by changes … in risk attitudes and perceived probability of disasters, or by learning of insurance benefits, but is driven by the …

Using a unique dataset of insurance decisions by over 1,800 large U.S. corporations, this study provides the first … empirical analysis of firm behavior that compares corporate demand for property and catastrophe insurance (here, terrorism). We … decisions. The main finding is that demand for property and catastrophe insurance are not very different and that the demand for …

-makers not to invest in adaptation measures until after it is too late. In an interdependent world with no intervention by the …. These may include multi-year insurance contracts, well-enforced regulations, third-party inspections, and alternative risk …