This paper describes the challenges victims, insurers and governments face in dealing with insurance for low-probability high-consequence events in both developed and developing economies. In developed economies, given their limited experience with catastrophes, there is a tendency for all three parties to engage in short-term intuitive thinking rather than long-term deliberative thinking when making insurance-related decisions. Here, public-private partnerships can encourage investment in protective measures prior to a disaster, deal with affordability problems and provide coverage for catastrophic risks. Insurance premiums based on risk provide signals to residents and business as to the hazards they face and enable insurers to lower premiums for properties where steps have been taken to reduce their risk. To address issues of equity and fairness, homeowners who cannot afford insurance could be given vouchers tied to loans for investing in loss reduction measures. The National Flood Insurance Program provides an opportunity to implement a public-private partnership that could eventually be extended to other extreme events, while the United Kingdom’s Flood Re provides a good case study. In developing economies, insurance penetration is historically very low. This requires innovative solutions to catastrophic risk insurance such as risk pooling, parametric insurance and micro insurance. Nevertheless, the uninsured and uncompensated losses of disasters remain extensive implying the need for public-private partnerships.

中文翻译：

---

公共和私人保险在减少极端天气事件和灾难造成的损失中的作用

本文描述了在发达和发展中经济体中，受害者，保险公司和政府在处理针对低概率高后果事件的保险方面面临的挑战。在发达经济体中，由于他们在灾难方面的经验有限，因此在制定与保险相关的决策时，所有三方都有进行短期直觉思维而不是长期协商思维的趋势。在这里，公私合作伙伴关系可以鼓励在灾难发生之前投资于保护措施，应对可负担性问题，并提供灾难性风险的保障。基于风险的保险费向居民和企业提供有关他们所面临的危险的信号，并使保险公司能够降低已采取措施降低其风险的财产的保费。为了解决公平和公平问题，可以为无法负担保险的房主提供与贷款挂钩的凭证，用于投资于减少损失的措施。国家洪水保险计划提供了实施公私合作伙伴关系的机会，该伙伴关系最终可以扩展到其他极端事件，而英国的Flood Re提供了一个很好的案例研究。在发展中经济体中，保险的渗透率历来很低。这就需要针对灾难性风险保险的创新解决方案，例如风险汇总，参数保险和小额保险。然而，灾难的未保险和未补偿的损失仍然很广泛，这意味着需要建立公私伙伴关系。国家洪水保险计划提供了实施公私合作伙伴关系的机会，该伙伴关系最终可以扩展到其他极端事件，而英国的Flood Re提供了一个很好的案例研究。在发展中经济体中，保险的渗透率历来很低。这就需要针对灾难性风险保险的创新解决方案，例如风险汇总，参数保险和小额保险。然而，灾难的未保险和未补偿的损失仍然很广泛，这意味着需要建立公私伙伴关系。国家洪水保险计划提供了实施公私合作伙伴关系的机会，该伙伴关系最终可以扩展到其他极端事件，而英国的Flood Re提供了一个很好的案例研究。在发展中经济体中，保险的渗透率历来很低。这就需要针对灾难性风险保险的创新解决方案，例如风险汇总，参数保险和小额保险。然而，灾难的未保险和未补偿的损失仍然很广泛，这意味着需要建立公私伙伴关系。这就需要针对灾难性风险保险的创新解决方案，例如风险汇总，参数保险和小额保险。然而，灾难的未保险和未补偿的损失仍然很广泛，这意味着需要建立公私伙伴关系。这就需要针对灾难性风险保险的创新解决方案，例如风险汇总，参数保险和小额保险。然而，灾难的未保险和未补偿的损失仍然很广泛，这意味着需要建立公私伙伴关系。