Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/113947
Authors: 
Mysiak, Jaroslav
Pérez-Blanco, C. D.
Year of Publication: 
2015
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 40.2015
Abstract: 
Extreme events are becoming more frequent and intense, inflating the economic damages and social hardship set-off by natural catastrophes. Amidst budgetary cuts, there is a growing concern on societies' ability to design solvent disaster recovery strategies, while addressing equity and affordability concerns. The participation of private sector along with public one through Public-Private Partnerships (PPPs) has gained on importance as a means to address these seemingly conflicting objectives through the provision of (catastrophic) natural hazard insurance. This is the case of many OECD countries, notably some EU Member States such as the United Kingdom and Spain. The EU legislator has adapted to this new scenario and recently produced major reforms in the legislation and regulation that govern the framework in which PPPs for (catastrophic) natural hazard insurance develop. This paper has a dual objective: 1) review the complex legal background that rules the provision of insurance against natural catastrophes in the EU after these major reforms; 2) assess the implications of the reforms and offer concise Policy Guiding Principles.
Subjects: 
Public-Private Partnerships (PPPs)
Natural Hazards Insurance
Economic Instruments
Solidarity
JEL: 
Q54
Q58
G22
Document Type: 
Working Paper

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