持続的社会に向けた官民パートナーシップによる保険スキームに関する考察

　本研究は，官民パートナーシップによる保険スキームが，持続的社会の実現に貢献し得るかどうかを，生活保障シス テム，自然災害保険および賠償責任保険に焦点を当てて探ることを目的としている．保険が，そのリスク移転機能を発 揮するためには，インセンティブ問題や過大な資本コストなどの諸要因により損なわれるリスクの保険可能性を，低コ ストで補完する必要がある．このことについて生活保障システムでは，公的保険と民間保険の組合せによる二層構造が， モラルハザードと逆選択を効果的に縮小し得ることがわかった．自然災害保険においては，補償の制限，再保険および 保険料率算出などへの公的関与が，保険カバーの安定供給に貢献するいっぽうで，高リスク地域での過度の財物建設な どの問題を引き起こす可能性が見出された．自動車損害賠償や製造物責任などに対する賠償責任保険については，過失 責任主義の修正が，安全努力を促進するいっぽうで，付保強制や保険料率規制が，逆選択とモラルハザードの問題を悪 化させるおそれがあった

The Impact of Insurance on a Sustainable Society Exposed to Natural Disaster Risks

Natural disasters caused by seismic activity and extreme weather events have an increasingly significant impact. This rise is, at least partly, attributed to global warming and/or economic growth in disasterprone areas. Despite the encouragement by the Principles for Sustainable Insurance (PSI) suggesting that insurers finance macroeconomic risk, it is challenging for the private market alone to do so. A viable alternative is to finance macroeconomic risk through collaborations between insurers and governments (or other public institutions). We examine model plans of such private-public partnerships currently operating in Asia, North America, and Europe. We identify commonalities in the different plans including coverage limitations, government-sponsored reinsurance, strict rate regulation, and compulsory participation. We conclude that the plans contain features complementary to the insurability-of-risk concept and that they preserve the availability of insurance coverage. These features, however, exacerbate basis risk, encourage excessive development in high-risk locations, and increase the cost of screening uninsured exposures. We also observe that attempts to improve on one attribute of the plan create problems in other attributes. Finally, we offer suggestions for improving the design of public-private insurance plans

The Palgrave Handbook of Unconventional Risk Transfer

This handbook examines the latest techniques and strategies that are used to unlock the risk transfer capacity of global financial and capital markets. Taking the financial crisis and global recession into account, it frames and contextualises non-traditional risk transfer tools created over the last 20 years. Featuring contributions from distinguished academics and professionals from around the world, this book covers in detail issues in securitization, financial risk management and innovation, structured finance and derivatives, life and non-life pure risk management, market and financial reinsurance, CAT risk management, crisis management, natural, environmental and man-made risks, terrorism risk, risk modelling, vulnerability and resilience. This handbook will be of interest to academics, researchers and practitioners in the field of risk transfer

Economies of Scale in Services: A study of Multinational Insurers

This study investigates whether multinational insurer achieve economies of scale. Using a time-series, cross-sectional design, it analyzes the relationship between expenses and output of multinational insurers. The study finds that multinational insurers achieve economies of scale only up to a point, and rather than benefitting from scale, the most internationally diverse insurers suffer diseconomies. The conclusion is that the benefits of extensive foreign acquisitions by insurers are questionable.© 1998 JIBS. Journal of International Business Studies (1998) 29, 305–323