Financing Natural Disaster Risk Using Charity Contributions And Ex Ante Index Insurance
AbstractThe scale of loss from natural disasters in low-income countries often exceeds the resources of internal and external sources of relief funding. Catastrophe bonds offer the opportunity to transfer the risk of low-probability, high-loss events to the capital market where there is greater capacity to absorb disaster losses. This paper details some problems inherent in traditional sources of disaster relief and proposes an alternative mechanism for catastrophe risk transfer that unites financial innovations and donor communities.
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Bibliographic InfoPaper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number 22188.
Date of creation: 2003
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