Risktransfer,includinginsurance,iswidelyrecognizedasatoolforincreasingfinancial
resilience tosevereweathereventssuchasfloods.Theapplicationofthismechanism
varieswidelyacrosscountries,witharangeofdifferenttypesandschemesinoperation.
Whilemostoftheanalyticalfocushassofarbeenonthosemarketsthathavealong
tradition ofinsurance,thereisstillacleargapinourunderstandingofhowthis
mechanismworksinadevelopingcountrycontext.Thispaperassesses27insurance
schemesthattransfertheriskofeconomiclossesarisingfromfloodsinlow—and middle
incomecountries,focusingonthelinkagesbetweenfinancialrisktransferandrisk
reduction. Thisaspectisimportanttoavoidtheeffectofmoralhazardandhasgained
particularrelevanceinthecontextoftheclimatechangeadaptationdiscourse,where
some scholarsandpractitionersviewinsuranceasapotentialtoolnotjustforcurrent
risks,butalsotoaddressprojectedfutureimpactsofachangingclimatebyincentivizing
risk reduction.Wethereforelookbeyondthepurefinancialrisktransfernatureofthose
27insuranceschemesandinvestigateanypreventionandriskreductionelements.Our
analysissuggeststhatthepotentialforutilizingrisktransferforriskreductionisfarfrom
exhausted,withonlyveryfewschemesshowinganoperationallinkbetweenrisktransfer
and riskreduction,whiletheeffectivenessandimplementationonthegroundremains
unclear.Thedearthoflinkagesbetweenriskreductionandinsuranceisamissed
opportunityintheeffortstoaddressrisingrisklevels,particularlyinthecontextof
climate change.Risingrisklevelsposeathreattotheinsurabilityoffloods,andinsurance
withoutriskreductionelementscouldleadtomoralhazard.Thereforeacloserlinkage
betweenrisktransferandriskreductioncouldmakethisamoresustainableand
robust tool.
Risktransfer,includinginsurance,iswidelyrecognizedasatoolforincreasingfinancialresilience tosevereweathereventssuchasfloods.Theapplicationofthismechanismvarieswidelyacrosscountries,witharangeofdifferenttypesandschemesinoperation.Whilemostoftheanalyticalfocushassofarbeenonthosemarketsthathavealongtradition ofinsurance,thereisstillacleargapinourunderstandingofhowthismechanismworksinadevelopingcountrycontext.Thispaperassesses27insuranceschemesthattransfertheriskofeconomiclossesarisingfromfloodsinlow—and middleincomecountries,focusingonthelinkagesbetweenfinancialrisktransferandriskreduction. Thisaspectisimportanttoavoidtheeffectofmoralhazardandhasgainedparticularrelevanceinthecontextoftheclimatechangeadaptationdiscourse,wheresome scholarsandpractitionersviewinsuranceasapotentialtoolnotjustforcurrentrisks,butalsotoaddressprojectedfutureimpactsofachangingclimatebyincentivizingrisk reduction.Wethereforelookbeyondthepurefinancialrisktransfernatureofthose27insuranceschemesandinvestigateanypreventionandriskreductionelements.Ouranalysissuggeststhatthepotentialforutilizingrisktransferforriskreductionisfarfromexhausted,withonlyveryfewschemesshowinganoperationallinkbetweenrisktransferand riskreduction,whiletheeffectivenessandimplementationonthegroundremainsunclear.Thedearthoflinkagesbetweenriskreductionandinsuranceisamissedopportunityintheeffortstoaddressrisingrisklevels,particularlyinthecontextofclimate change.Risingrisklevelsposeathreattotheinsurabilityoffloods,andinsurancewithoutriskreductionelementscouldleadtomoralhazard.Thereforeacloserlinkagebetweenrisktransferandriskreductioncouldmakethisamoresustainableandrobust tool.
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risktransfer includinginsurance iswidelyrecognizedasatoolforincreasingfinancial
, , ความยืดหยุ่น tosevereweathereventssuchasfloods . theapplicationofthismechanism varieswidelyacrosscountries witharangeofdifferenttypesandschemesinoperation
, .
whilemostoftheanalyticalfocushassofarbeenonthosemarketsthathavealong ประเพณี ofinsurance thereisstillacleargapinourunderstandingofhowthis
,mechanismworksinadevelopingcountrycontext . schemesthattransfertheriskofeconomiclossesarisingfromfloodsinlow thispaperassesses27insurance
focusingonthelinkagesbetweenfinancialrisktransferandrisk incomecountries และกลาง , การลด thisaspectisimportanttoavoidtheeffectofmoralhazardandhasgained particularrelevanceinthecontextoftheclimatechangeadaptationdiscourse ที่ไหน
,บาง scholarsandpractitionersviewinsuranceasapotentialtoolnotjustforcurrent butalsotoaddressprojectedfutureimpactsofachangingclimatebyincentivizing
ความเสี่ยง การลดความเสี่ยง wethereforelookbeyondthepurefinancialrisktransfernatureofthose
27insuranceschemesandinvestigateanypreventionandriskreductionelements . analysissuggeststhatthepotentialforutilizingrisktransferforriskreductionisfarfrom ของเรา
เหนื่อยและ whiletheeffectivenessandimplementationonthegroundremains riskreduction withonlyveryfewschemesshowinganoperationallinkbetweenrisktransfer
,
ไม่ชัดเจน thedearthoflinkagesbetweenriskreductionandinsuranceisamissed
opportunityintheeffortstoaddressrisingrisklevels เปลี่ยนบรรยากาศ particularlyinthecontextof risingrisklevelsposeathreattotheinsurabilityoffloods andinsurance
,
withoutriskreductionelementscouldleadtomoralhazard . thereforeacloserlinkage
betweenrisktransferandriskreductioncouldmakethisamoresustainableand ประสิทธิภาพเครื่องมือ
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