BIS study examines ways to improve catastrophe insurance
Financial Stability Institute says “parametric” policies can help businesses weather the storm
Better data, modelling techniques and financial awareness are among the areas authorities should focus on if they want to encourage households and companies to insure against economic losses from natural catastrophes, a report from the Bank for International Settlements (BIS) has said.
The paper, published on December 2 by the BIS’s Financial Stability Institute, notes there is a significant gap between insured and total economic losses against natural catastrophes.
The authors, Denis Garcia
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