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Strategies for responding to pandemic risk: Removal and/or redistribution

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Abstract

The pandemic has an ongoing financial impact on the global economy, resulting in its uninsurability and ultimately an insurance protection gap. While solutions exist to address other protection gaps caused by large-scale disasters such as repeated flooding, earthquakes, and terrorism, pandemics differ and require novel solutions. This paper builds on Jarzabkowski et al.’s (2018) strategic response framework to large-scale, catastrophic disasters and applies it to the pandemic insurance protection gap. Set in the U.K. context, the research empirically studies various insurance solutions that are being proposed for pandemic risk and presents and evaluates four types of responses.

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  • Jarzabkowski, Paula & Krull, Elisabeth & Kavas, Mustafa & Chalkias, Konstantinos, 2021. "Strategies for responding to pandemic risk: Removal and/or redistribution," Journal of Financial Transformation, Capco Institute, vol. 54, pages 62-69.
    • Handle: RePEc:ris:jofitr:1675
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    References listed on IDEAS

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    1. Editorial, 2020. "Covid-19 and Climate Change," Journal, Review of Agrarian Studies, vol. 10(1), pages 5-6, January-J.
    2. Chloe H. Lucas & Kate I. Booth, 2020. "Privatizing climate adaptation: How insurance weakens solidaristic and collective disaster recovery," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 11(6), November.
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    More about this item

    Keywords

    Insurance; Public-Private Enterprises; Financial Risk and Risk Management; Disasters and Their Management; Government Policy;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises

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