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Vulnerability to Natural Disasters and Insurance: Insights from the Italian Case

Author

Listed:
  • Francesco De Masi

    (Dipartimento di Scienze dell’Economia, Università del Salento, Via per Monteroni, 73100 Lecce, Italy)

  • Donatella Porrini

    (Dipartimento di Scienze dell’Economia, Università del Salento, Via per Monteroni, 73100 Lecce, Italy)

Abstract

The aim of this article is to analyze the concept of “vulnerability” to natural disasters, focusing on the specific case of the Italian earthquake insurance. In this sense, we examine in detail the vulnerability definition and its relevance for citizens and for insurance companies. Then we investigate the Italian insurance market characterized by a very low penetration of natural disasters insurance and the potential effects of a recent Government initiative called “Sisma Bonus”. The idea is that its technical content, in terms of a specific definition of vulnerability, may contribute to developing a better consciousness about vulnerability and a larger diffusion of insurance products.

Suggested Citation

  • Francesco De Masi & Donatella Porrini, 2018. "Vulnerability to Natural Disasters and Insurance: Insights from the Italian Case," IJFS, MDPI, vol. 6(2), pages 1-12, June.
    • Handle: RePEc:gam:jijfss:v:6:y:2018:i:2:p:56-:d:150759
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    References listed on IDEAS

    as
    1. Donatella Porrini, 2016. "Risk Classification in Natural Catastrophe Insurance: The Case of Italy," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 7(1), pages 39-49, January.
    2. Donatella Porrini & Reimund Schwarze, 2014. "Insurance models and European climate change policies: an assessment," European Journal of Law and Economics, Springer, vol. 38(1), pages 7-28, August.
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    Cited by:

    1. Nicoleta Radu & Felicia Alexandru, 2022. "Parametric Insurance—A Possible and Necessary Solution to Insure the Earthquake Risk of Romania," Risks, MDPI, vol. 10(3), pages 1-16, March.
    2. Francesco Masi & Donatella Porrini, 2021. "Cultural Heritage and natural disasters: the insurance choice of the Italian Cathedrals," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 45(3), pages 409-433, September.
    3. Donatella Porrini & Francesco Masi, 2021. "Managing climate change risk: the case of the Italian Churches," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 105(3), pages 2619-2637, February.

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