Property loss compensation mechanism of flood risk in China
Ge, Y.1,2; Li, X.3; Li, B.4; Xing, H.2
Corresponding AuthorGe, Y.(geyu2004@gmail.com)
AbstractNatural disasters cause disastrous losses of life and property in China. The most serious losses come from floods which represent more than 1% of the notional gross domestic product. Currently, there is no effective compensation mechanism to counteract the impact of floods. The existing mechanism mainly relies on guidance from the national government with cooperation from local governments. The value of compensation from government is less than 10% of the value of lost property. Worldwide, the two main mechanisms to compensate for losses caused by flood are government allocations and commercial markets, and insurance is the most popular commercial instrument to deal with flood losses. In this paper, we explore whether China could adopt a commercial approach to compensation. Three provinces are used as an example to demonstrate that China could rely on commercial mechanisms to compensate for flood losses.
KeywordCompensation flood loss risk
Indexed BySCI
Funding ProjectNational Natural Science Foundation of China[41201098]
Funding OrganizationNational Natural Science Foundation of China
WOS Research AreaEnvironmental Sciences & Ecology ; Water Resources
WOS SubjectEnvironmental Sciences ; Water Resources
WOS IDWOS:000423387900006
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Cited Times:1[WOS]   [WOS Record]     [Related Records in WOS]
Document Type期刊论文
Corresponding AuthorGe, Y.
Affiliation1.Inner Mongolia Univ Finance & Econ, Inst Finance, 185 North Second Ring Rd, Hohhot 010010, Inner Mongolia, Peoples R China
2.Chinese Acad Sci, Inst Geog Sci & Nat Resources Res, Beijing, Peoples R China
3.Cent Univ Finance & Econ, China Inst Actuarial Sci, Beijing, Peoples R China
4.Cent Univ Finance & Econ, China Ctr Human Capital & Labor Market Res, Beijing, Peoples R China
Recommended Citation
GB/T 7714
Ge, Y.,Li, X.,Li, B.,et al. Property loss compensation mechanism of flood risk in China[J]. JOURNAL OF FLOOD RISK MANAGEMENT,2017,10(4):474-486.
APA Ge, Y.,Li, X.,Li, B.,&Xing, H..(2017).Property loss compensation mechanism of flood risk in China.JOURNAL OF FLOOD RISK MANAGEMENT,10(4),474-486.
MLA Ge, Y.,et al."Property loss compensation mechanism of flood risk in China".JOURNAL OF FLOOD RISK MANAGEMENT 10.4(2017):474-486.
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