After the flooding in 2002 European governments provided billions of Euros of financial assistance to their citizens. Although there is no doubt that solidarity and some sort of assistance is reasonable, the question arises why these damages were not sufficiently insured. One explanation why...

An analysis of the effects of natural hazards on society does not solely depend on a region's topographic or climatic exposure to natural processes, but the region's institutional resilience to natural processes that ultimately determines whether natural processes result in a natural hazard or...

This paper discusses the problem of crowding out of insurance by co-existing governmental relief programs - so-called 'charity hazard' - in a context of different institutional schemes of governmental relief in Austria and Germany. We test empirically whether an assured partial relief scheme (as...

This paper tests some existing theories developed over the past 25 years on corporate demand for insurance. Using a unique dataset of 1,809 large U.S. corporations it provides the first empirical analysis that compares corporate demand for standard property insurance and for catastrophe coverage...

This paper provides an overview on the existing systems of natural hazards insurance in Europe, their structural characteristics and peculiarities. It also discusses the difficulties of an adaptation of these systems to climate change and a growing number of natural disasters. Using the case of...

It is widely recognized that ?market failure? prevents efficient risk sharing in natural disaster insurance. As a consequence, many countries adopted institutional frameworks presenting public sector participation, often praised as public-private partnerships. We define risk selection as a...

This paper studies the evolution of hurricane insurance in Florida over the last decades. Hurricanes (and other natural catastrophes) are typically referred to as uninsurable" risks. The more exposed property owners find it difficult to obtain insurance cover from the private market and/or can...

Elementarschäden an Immobilien werden klimabedingt zunehmen, aber noch immer sindin Deutschland nicht alle Wohnimmobilien gegen Elementarschäden versichert. Sie sindaber überall zu tragbaren Prämien versicherbar. Die zentralen Parameter, die es zu regelngilt, sind der Abdeckungsgrad...

Diese Arbeit analysiert, inwieweit die unterschiedlichen Risikotransfersysteme dreier vom Augusthochwasser 2005 betroffener Länder, Deutschland (reine Marktlösung mit ergänzender staatlicher Notfallhilfe), Österreich (steuerfinanzierter Katastrophenfonds mit ergänzenden Marktangeboten) und...

Bis zum Auftreten der ersten Versicherungen prägten zwei Verhaltensweisen die Bewältigung von Elementarereignissen: Einerseits wurden die Leistungen auf freiwilliger Basis erbracht, andererseits kamen die Solidaritätsleistungen immer erst nach dem Eintritt der verheerenden Naturereignisse...