Climate Risk Perceptions and Demand for Flood Insurance

2019 ◽  
Author(s):  
Dimuthu Ratnadiwakara ◽  
Buvaneshwaran Venugopal
Keyword(s):  
Risk Perceptions ◽  
Climate Risk ◽  
Flood Insurance

scholarly journals Influence of flood risk characteristics on flood insurance demand: a comparison between Germany and the Netherlands

2013 ◽  
Vol 13 (7) ◽  
pp. 1691-1705 ◽  
Author(s):  
I. Seifert ◽  
W. J. W. Botzen ◽  
H. Kreibich ◽  
J. C. J. H. Aerts
Keyword(s):  
The Netherlands ◽  
Flood Risk ◽  
Risk Perceptions ◽  
Private Insurance ◽  
Insurance Coverage ◽  
Individual Risk ◽  
Flood Insurance ◽  
Insurance Demand ◽  
Information Campaigns ◽  
Demand For Insurance

Abstract. The existence of sufficient demand for insurance coverage against infrequent losses is important for the adequate function of insurance markets for natural disaster risks. This study investigates how characteristics of flood risk influence household flood insurance demand based on household surveys undertaken in Germany and the Netherlands. Our analyses confirm the hypothesis that willingness to pay (WTP) for insurance against medium-probability medium-impact flood risk in Germany is higher than WTP for insurance against low-probability high-impact flood risk in the Netherlands. These differences in WTP can be related to differences in flood experience, individual risk perceptions, and the charity hazard. In both countries there is a need to stimulate flood insurance demand if a relevant role of private insurance in flood loss compensation is regarded as desirable, for example, by making flood insurance compulsory or by designing information campaigns.

scholarly journals Determinants of Farmers’ Climate Risk Perceptions in Agriculture—A Rural Ghana Perspective

Water ◽  
2017 ◽  
Vol 9 (3) ◽  
pp. 210 ◽  
Author(s):  
Francis Ndamani ◽  
Tsunemi Watanabe
Keyword(s):  
Risk Perceptions ◽  
Climate Risk ◽  
Rural Ghana

From risk assessment to adaptation pathways: improvement of Climate Risk Informed Decision Analysis for the Limari basin in Chile

2020 ◽  
Author(s):  
Christianne Luger ◽  
Ad Jeuken ◽  
Koen Verbist ◽  
Saket Pande ◽  
Andrew Warren ◽  
...  
Keyword(s):  
Climate Change ◽  
Decision Analysis ◽  
Risk Perceptions ◽  
Planning Process ◽  
Cost Effective ◽  
Project Planning ◽  
Informed Decision ◽  
Climate Risk ◽  
Overall Acceptability ◽  
In Series

<p>The Climate Risk Informed Decision Analysis (CRIDA) framework incorporates the uncertainties of climate change that impact project planning, socioeconomic justification, and engineering design into a step-wise and collaborative planning process to guide a technical analyst to low-regret risk- and cost-effective solutions; <br>Research has been carried out to demonstrate and improve, through additional guidelines, the usability of CRIDA, in a pilot for the Limari basin in Chile. The added guidelines (1) offer the analyst numerically based justifications for analytical decisions to ensure a more structured application of CRIDA and (2) improves on co-design aspects by incorporating stakeholder risk perceptions and opinions explicitly in the process. <br>The Limari Basin has experienced an increase in drought frequency and severity over the last decades. A strategic approach for adaptation is recommended through CRIDA based on an evaluation of the future risk to climate change and the confidence in this analysis and a subsequent systematic assessments of adaptation options. The resulting strategy requires the increase of water supply robustness by adding new water sources that can be implemented in combination with flexible measures for managing demand (i.e. implementing agricultural meshes and improving irrigation efficiency) in parallel or in series to create adaptation pathways.<br>The study demonstrated the functionality of CRIDA. While the added guidelines required more processing time, subjectivity in the method is reduced thus also reducing possible bias introduced by the analyst. In addition, overall acceptability of the proposed strategies is improved by incorporating stakeholder risk perceptions and opinions explicitly in the process.</p>

The Importance of Climate Risks for Institutional Investors

2020 ◽  
Vol 33 (3) ◽  
pp. 1067-1111 ◽  
Author(s):  
Philipp Krueger ◽  
Zacharias Sautner ◽  
Laura T Starks
Keyword(s):  
Risk Management ◽  
Institutional Investors ◽  
Risk Perceptions ◽  
Climate Risk ◽  
Climate Risks

Abstract According to our survey about climate risk perceptions, institutional investors believe climate risks have financial implications for their portfolio firms and that these risks, particularly regulatory risks, already have begun to materialize. Many of the investors, especially the long-term, larger, and ESG-oriented ones, consider risk management and engagement, rather than divestment, to be the better approach for addressing climate risks. Although surveyed investors believe that some equity valuations do not fully reflect climate risks, their perceived overvaluations are not large.

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