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How Should A Fiscal Union For Emu Look Like?

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  • Florin-Alexandru MACSIM

    (Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, florin.macsim1@yahoo.ro, Iasi, Romania,)

Abstract

This paper approaches the issue of insurance demand for catastrophic risks. Given the impact of these extreme events, the upward trend both in terms of frequency and severity a low level of the degree of insurance coverage can be observed. This is not a characteristic for Romania but rather a global problem. Our goal is to identify the main factors that influence a person�s decision to switch from uninsured to insured based on the analysis of the models already developed. Then we will focus on the Romania�s situation when it comes to regulations of covering the three catastrophic risks: earthquake, flood and landslides. Based on data regarding compulsory household insurance, through a regression analysis we�ll identify the factors that are taken into account by the clients when they decide to transfer the risk by buying an insurance policy. Furthermore we�ll present some elements that can lead to a higher insurance coverage. An important aspect is a different premium for the compulsory insurance by considering the exposure to risk.

Suggested Citation

  • Florin-Alexandru MACSIM, 2015. "How Should A Fiscal Union For Emu Look Like?," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 0(Special i), pages 79-88, September.
    • Handle: RePEc:aic:jopafl:y:2015:v:s2:p:79-88
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    References listed on IDEAS

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