The European Union Solidarity Fund: Its legitimacy, viability and efficiency

Hochrainer-Stigler, S., Linnerooth-Bayer, J., & Mechler, R. ORCID: https://orcid.org/0000-0003-2239-1578 (2010). The European Union Solidarity Fund: Its legitimacy, viability and efficiency. Mitigation and Adaptation Strategies for Global Change 15 (7) 797-810. 10.1007/s11027-009-9209-2.

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Abstract

This paper examines the legitimacy, viability and efficiency of the European Union Solidarity Fund by asking whether the Fund meets its stated purpose of providing solidarity within the EU, whether it is sufficiently capitalized and if it promotes disaster risk reduction in Europe. In examining these questions, we make use of ADAM models of disaster risks throughout Europe. We conclude that the Solidarity Fund falls short on all three counts, and we suggest possible alternatives. Most far-reaching, we explore whether the EUSF could support insurance systems in Europe by, among other possible activities, capitalizing national public-private insurance programs and providing support for government risk transfer. This would leverage the Fund's capital and would overcome barriers to the provision of private and public sector insurance in uncertain catastrophe markets. It would also make insurance more affordable to Europe's most vulnerable communities. Finally, it would reduce the disincentives for risk reduction inherent in post-disaster assistance.

Item Type:	Article
Uncontrolled Keywords:	European Solidarity Fund; Extreme events; Robustness; Adaptation; Insurance; EU policy; Risk reduction
Research Programs:	Risk and Vulnerability (RAV)
Bibliographic Reference:	Mitigation and Adaptation Strategies for Global Change; 15(7):797-810 (October 2010) (Published online 23 January 2010)
Depositing User:	IIASA Import
Date Deposited:	15 Jan 2016 08:44
Last Modified:	27 Aug 2021 17:21
URI:	https://pure.iiasa.ac.at/9290

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