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Ermoliev, Y., Ermolieva, T., & Galambos, I.
(2013).
Optimizing public private risk transfer systems for flood risk management in the Upper Tisza Region.
In:
Integrated Catastrophe Risk Modeling: Supporting Policy Processes.
Eds. Amendola, A, Ermolieva, T, Linnerooth-Bayer, J, & Mechler, R 
ORCID: https://orcid.org/0000-0003-2239-1578,
Dordrecht: Springer.
10.1007/978-94-007-2226-2_15.
Abstract
This chapter summarizes studies on the development of a financial risk management model for floods in the Upper Tisza river region, Hungary. We focus on the evaluation of a multi-pillar flood loss-spreading program involving partial compensation to flood victims by the central government, the pooling of risks through a mandatory public-private insurance on the basis of location-specific exposures, and a contingent ex-ante credit to reinsure the pool's liabilities. Policy analysis is guided by GIS-based catastrophe models and stochastic optimization methods with respect to location-specific risk exposures. We use economically sound risk indicators leading to convex stochastic optimization problems strongly connected with non-convex insolvency constraint and Conditional Value-at-Risk (CVaR).
| Item Type: | Book Section |
|---|---|
| Uncontrolled Keywords: | Flood risk; Catastrophe modeling; Natural risk insurance; Stochastic optimization; Contingent credit; CVaR |
| Research Programs: | Advanced Systems Analysis (ASA) Ecosystems Services and Management (ESM) |
| Bibliographic Reference: | In: A Amendola, T Ermolieva, J Linnerooth-Bayer, R Mechler (Eds); Integrated Catastrophe Risk Modeling: Supporting Policy Processes; Springer, Dordrecht, Netherlands pp.245-262 |
| Related URLs: | |
| Depositing User: | IIASA Import |
| Date Deposited: | 15 Jan 2016 08:49 |
| Last Modified: | 27 Aug 2021 17:23 |
| URI: | https://pure.iiasa.ac.at/10599 |
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