Disaster risk reduction and international catastrophe risk insurance facility

© 2016, Springer Science+Business Media Dordrecht. The objectives of this research are to investigate resource loss effects from flooding and to provide recommendations on disaster risk reduction policies. This research utilized a dynamic computable general equilibrium (CGE) model, which found that...

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Main Authors: Nipawan Thirawat, Sirikamon Udompol, Pathomdanai Ponjan
Other Authors: Mahidol University
Format: Article
Published: 2018
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Online Access:https://repository.li.mahidol.ac.th/handle/123456789/42651
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spelling th-mahidol.426512019-03-14T15:03:40Z Disaster risk reduction and international catastrophe risk insurance facility Nipawan Thirawat Sirikamon Udompol Pathomdanai Ponjan Mahidol University Ministry of Finance Environmental Science © 2016, Springer Science+Business Media Dordrecht. The objectives of this research are to investigate resource loss effects from flooding and to provide recommendations on disaster risk reduction policies. This research utilized a dynamic computable general equilibrium (CGE) model, which found that losses of resources had major negative impacts on real gross domestic product (GDP). Transitioning from national catastrophe insurance fund to an international risk pooling approach is discussed, and as the Global Catastrophe Risk Insurance Facility has not yet been established, our proposal suggests the Association of Southeast Asian Nations plus three (ASEAN + 3) Catastrophe Risk Insurance Facility (ACRIF) and the Association of Southeast Asian Nations plus three catastrophic bonds (ASEAN + 3 CAT bonds) as effective means of reducing fiscal liabilities arising from natural disasters, also effectively enhancing disaster risk reduction. These tools are complementary to Catastrophe Risk Swaps which are innovative global financial adaptation strategies designed to make communities and governments more resilient to disaster damages. They are ex-ante risk financing tools and sources of liquidity for damage restoration and economic recovery, which facilitates flexibility among the Association of Southeast Asian Nations plus three (ASEAN + 3) and other governments requiring special assistance. Most importantly, utilization of insurance and catastrophic bonds promotes the achievement of set objectives of global adaptation strategies, sustainable economic growth, and climate resilient development. 2018-12-21T07:43:47Z 2019-03-14T08:03:40Z 2018-12-21T07:43:47Z 2019-03-14T08:03:40Z 2017-10-01 Article Mitigation and Adaptation Strategies for Global Change. Vol.22, No.7 (2017), 1021-1039 10.1007/s11027-016-9711-2 15731596 13812386 2-s2.0-84961771743 https://repository.li.mahidol.ac.th/handle/123456789/42651 Mahidol University SCOPUS https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84961771743&origin=inward
institution Mahidol University
building Mahidol University Library
continent Asia
country Thailand
Thailand
content_provider Mahidol University Library
collection Mahidol University Institutional Repository
topic Environmental Science
spellingShingle Environmental Science
Nipawan Thirawat
Sirikamon Udompol
Pathomdanai Ponjan
Disaster risk reduction and international catastrophe risk insurance facility
description © 2016, Springer Science+Business Media Dordrecht. The objectives of this research are to investigate resource loss effects from flooding and to provide recommendations on disaster risk reduction policies. This research utilized a dynamic computable general equilibrium (CGE) model, which found that losses of resources had major negative impacts on real gross domestic product (GDP). Transitioning from national catastrophe insurance fund to an international risk pooling approach is discussed, and as the Global Catastrophe Risk Insurance Facility has not yet been established, our proposal suggests the Association of Southeast Asian Nations plus three (ASEAN + 3) Catastrophe Risk Insurance Facility (ACRIF) and the Association of Southeast Asian Nations plus three catastrophic bonds (ASEAN + 3 CAT bonds) as effective means of reducing fiscal liabilities arising from natural disasters, also effectively enhancing disaster risk reduction. These tools are complementary to Catastrophe Risk Swaps which are innovative global financial adaptation strategies designed to make communities and governments more resilient to disaster damages. They are ex-ante risk financing tools and sources of liquidity for damage restoration and economic recovery, which facilitates flexibility among the Association of Southeast Asian Nations plus three (ASEAN + 3) and other governments requiring special assistance. Most importantly, utilization of insurance and catastrophic bonds promotes the achievement of set objectives of global adaptation strategies, sustainable economic growth, and climate resilient development.
author2 Mahidol University
author_facet Mahidol University
Nipawan Thirawat
Sirikamon Udompol
Pathomdanai Ponjan
format Article
author Nipawan Thirawat
Sirikamon Udompol
Pathomdanai Ponjan
author_sort Nipawan Thirawat
title Disaster risk reduction and international catastrophe risk insurance facility
title_short Disaster risk reduction and international catastrophe risk insurance facility
title_full Disaster risk reduction and international catastrophe risk insurance facility
title_fullStr Disaster risk reduction and international catastrophe risk insurance facility
title_full_unstemmed Disaster risk reduction and international catastrophe risk insurance facility
title_sort disaster risk reduction and international catastrophe risk insurance facility
publishDate 2018
url https://repository.li.mahidol.ac.th/handle/123456789/42651
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