Disaster relief financing in China: how insurers can partner with the public and private sectors to improve resilience
09 Aug 2016
Climate change is increasingly affecting the global economy and even politics. In this context, Swiss Re is monitoring the changing landscape of natural disasters and the development of relevant financial solutions that aim to reduce, or even eliminate, the negative impacts of these disasters on livelihoods, the economy and politics.
The goal is to provide those affected, such as individuals, businesses and all levels of government, with relevant scientific and institutionalised disaster-prevention and disaster-relief mechanisms.
Natural disasters occur frequently in China and are widely scattered. Oftentimes, governments do not set aside contingent capital to hedge against contingent liabilities related to natural disasters.
Swiss Re invited prominent experts and scholars in macro-economics, finance, insurance and fiscal science to carry out research on topics such as the correlation between natural disasters and the related financial and fiscal contingent liabilities; the systematic risks that arise from such contingent liabilities; financial and fiscal mechanisms for disaster prevention and relief; and disaster-insurance systems.
They have presented their respective findings, conclusions and solutions in the research papers published in our latest edition of the Swiss Re Centre for Global Dialogue's Risk Dialogue Series.
We hope that this publication is helpful for further research on natural disasters, designing disaster insurance systems, and establishing systems for disaster prevention and relief, in and out of China.