A systems approach to modeling catastrophic risk and insurability

Amendola A, Ermoliev YM, Ermolieva TY, Gitis V, Koff G, & Linnerooth-Bayer J (2000). A systems approach to modeling catastrophic risk and insurability. Natural Hazards 21 (2): 381-393. DOI:10.1023/A:1008183011971.

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Abstract

This paper describes a spatial-dynamic,stochastic optimization model that takes account ofthe complexities and dependencies of catastrophic risks. Following a description of the general model,the paper briefly discusses a case study of earthquake risk in the Irkutsk region of Russia. For this purpose the risk management model is customized to explicitly incorporate the geological characteristics of the region, as well as the seismic hazards and the vulnerability of the built environment. In its general form, the model can analyze the interplay between investment in mitigation and risk-sharing measures. In the application described in this paper, the model generates insurance strategies that are less vulnerable to insolvency

Item Type: Article
Uncontrolled Keywords: catastrophic; risk management; earthquake risk management; natural risk; insurability; stochastic optimization; risk mapping
Research Programs: Risk, Modeling and Society (RMS)
Social Security Reform (SSR)
Bibliographic Reference: Natural Hazards; 21(2-3):381-393 [2000]
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 02:11
Last Modified: 28 Apr 2016 07:08
URI: http://pure.iiasa.ac.at/5993

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