NDLI: Creating insurance markets for natural disaster risk in lower income countries: the potential role for securitization

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Creating insurance markets for natural disaster risk in lower income countries: the potential role for securitization

Content Provider	AgEcon Search
Author	Skees, Jerry R. Barnett, Barry J. Murphy, Anne G.
Description	Note: Paper presented in European Association of Agricultural Economists (EAAE),101st Seminar, July 5-6, 2007, Berlin Germany
Abstract	This paper considers the potential for securitizing index-based insurance products that transferweather and natural disaster risks from lower income countries. The paper begins with a briefoverview of why markets for natural disaster risks are important in lower income countriesand a review of some recent activities using index-based weather insurance. Next, the paperexplains how natural disaster risks are handled in higher income countries. These examplesalong with the example of an innovative index-based livestock insurance pilot project inMongolia illustrate how layers, or tranches, of natural disaster risk can be financed during theproduct development phase by creating structures similar to the Special Purpose Vehiclesused in catastrophe bond, mortgage bond, and the emerging microfinance bond markets. Werefer to these investment alternatives as micro-CAT bonds since the principal amounts wouldbe small relative to the existing CAT bond market.
Related Links	https://ageconsearch.umn.edu/record/9272/files/sp07sk01.pdf
Page Count	17
File Format	PDF
DOI	10.22004/ag.econ.9272
Language	English
Publisher	European Association of Agricultural Economists (EAAE)
Publisher Date	2007-01-01
Access Restriction	Open
Subject Keyword	Applied Economics Agricultural Economics Agri-economic Open Access Database Research in Applied Economics Research in Agricultural Economics Higher Study On Agricultural Economics Higher Study On Applied Economics Agricultural Research Documents Agrarian Economy & Research Higher Study Agri-economics Research in Economics Agri-economic Open Access Repository Statistics in Agricultural Economics Catastrophe Risk, Index Insurance, Weather Risks, Socially Responsible Investing, Reinsurance Catastrophe Risk Index Insurance Weather Risks Socially Responsible Investing Reinsurance Risk and Uncertainty
Content Type	Text
Resource Type	Article
Subject	Economics, Econometrics and Finance

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