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Insurance Principles for Sustainability in Extreme Weather

In: Proceedings of the 2025 3rd International Conference on Digital Economy and Management Science (CDEMS 2025)

Author

Listed:
  • Keyu Tao

    (Nanjing Forestry University)

Abstract

Climate change-related extreme weather imperils people’s lives, health, and property. This research constructs an insurance evaluation model and a landmark protection model to boost property insurance sustainability. Taking China and the United States as cases, the insurance evaluation model uses a competitive screening model for pricing and the TOPSIS method for impact scoring. It can distinguish underwriting risks (scores over 60 indicate low-risk underwriting, 20-60 suggest cautious underwriting, and below 20 mean no underwriting) and has 5% sensitivity stability. Based on this, property site selection is evaluated. For instance, Fujian Province was analyzed, and Fuzhou City with a score of 83.2 was selected as a suitable location, with a preference for areas scoring over 60. The landmark protection model, relying on the object element topable model, scores landmarks (preserving those over 60) and quantifies protection measures. The models were applied to the Mogao Grottoes, and a community protection letter was formulated. These models offer valuable tools for the insurance industry, real-estate developers, and heritage conservation, enhancing the understanding of the relationship between extreme weather, property insurance, and landmark protection.

Suggested Citation

  • Keyu Tao, 2025. "Insurance Principles for Sustainability in Extreme Weather," Advances in Economics, Business and Management Research, in: Wenke Zang & Chunping Xia (ed.), Proceedings of the 2025 3rd International Conference on Digital Economy and Management Science (CDEMS 2025), pages 220-225, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-770-0_27
    DOI: 10.2991/978-94-6463-770-0_27
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