In the present context, we are projecting those national level regulations which are either brought to stop the losses of natural disaster or brought to restore the situation after natural disasters.
Published in Chapter:
The Role of Disaster Regulations and Insurance Regulations on the Development of Disaster Insurance Markets: Regulatory Models in G-7 Countries
Ashu Tiwari (Indian Institute of Management Rohtak, India), Archana Patro (Indian Institute of Management Rohtak, India), and Jahnavi Patky (Indian Institute of Management Rohtak, India)
Copyright: © 2019
|Pages: 20
DOI: 10.4018/978-1-5225-8547-3.ch010
Abstract
Recently, the climate regulations and stop-loss regulations have become a central policy parameter globally. In market-oriented economies, insurers as the biggest stakeholder-industry of natural disaster risk are facing the issue related to industry sustainability. Thus, the policy implications of natural disasters regulation on the insurance industry are enormous. Therefore, this chapter has made an effort to analyze the disaster management in the integrated framework. This integrated framework is based upon the analysis of the role of regulatory actions taken by three actors, namely, disaster regulation, insurance regulations, and firms' actions across the three stages of disaster management, namely, pre-disaster, underwriting, and post-disaster stages in G-7 economies. Based on the outcomes of the current analysis, the chapter found that there are two polar opposite integrated models (i.e., isolated best policy model in the case of Japan and spiral policy model in the case of Italy). Five models fall in between the two.