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Insurance Collaboration of Municipalities for Sustainable Development

Author

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  • Stoyan Kirov

    (University of Economics - Varna)

Abstract

The climate changes and the impact of human activity on natural resources predetermine the growth of catastrophic risks. Municipalities have been trying for years to cope with the damages caused by increased natural disasters, but their efforts are not very successful. They fail to ensure the sustainable development of the regional economy because they divert enormous resources to the recovery of losses and thus cannot invest in future projects. One of the possibilities for solving the problem is to attract insurers as strategic partners. The insurance cooperation should not only aim at financing losses, but also help municipalities to reduce catastrophic risk. Such public-private partnerships can benefit all stakeholders and, above all society, which will have the conditions for sustainable development.

Suggested Citation

  • Stoyan Kirov, 2018. "Insurance Collaboration of Municipalities for Sustainable Development," Regional Economy and Sustainable Development, Conference Proceedings 2017, Research Institute, University of Economics - Varna, issue 2, pages 81-89, March.
  • Handle: RePEc:vra:pr1803:y:2018:i:2:p:81-89
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    More about this item

    Keywords

    sustainability insurance; insurance collaboration; public-private partnership; catastrophic risks; socially responsible investment.;
    All these keywords.

    JEL classification:

    • A00 - General Economics and Teaching - - General - - - General

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