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Trend in sovereign cat pools in emerging and developing economies

  • In recent years, three sovereign catastrophe risk pools have developed worldwide, offering climate insurance against natural disasters in emerging and developing economies: • Caribbean Catastrophe Risk Insurance Facility (CCRIF) in the Caribbean • African Risk Capacity (ARC) in Africa • Pacific Catastrophe Risk Insurance Company (PCRIC) in the Pacific region These pools have emerged against the backdrop of limited fiscal room for manoeuvre in emerging and developing economies. Increases in tax revenues or capital allocations are scarcely possible in these economies. Moreover, debt on the capital market often ends in debt relief, and this can jeopardise refinancing. Ultimately, the only measure remaining is to provide donations and aid that can be made available by the G7 countries, the World Bank or the World Health Organization, among others.

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Author:Wolfgang Koch
Series (Serial Number):Publikationen der Kölner Forschungsstelle Rückversicherung (14/2020)
Document Type:Conference Proceeding
Creating Corporation:TH Koeln
Date of first Publication:2021/02/01
Date of Publication (online):2023/02/24
GND-Keyword:Kölner Forschungsstelle Rückversicherung
Page Number:13
Institutes:Wirtschafts- und Rechtswissenschaften (F04) / Fakultät 04 / Institut für Versicherungswesen
Dewey Decimal Classification:300 Sozialwissenschaften / 330 Wirtschaft
JEL-Classification:G Financial Economics / G2 Financial Institutions and Services / G22 Insurance; Insurance Companies
Open Access:Open Access
Licence (German):License LogoCreative Commons - CC BY - Namensnennung 4.0 International