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Stochastic Simulation of Catastrophic Hail and Windstorm Indemnities in the Dutch Greenhouse Sector

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  • M. A. P. M. Van Asseldonk
  • M. P. M. Meuwissen
  • R. B. M. Huirne

Abstract

A risk analysis was performed to examine the effect of changes in the Dutch greenhouse sector on the probability of occurrence and magnitude of indemnities induced by catastrophic natural hazards. Analyzed historical indemnities, which included direct and consequential losses resulting from severe hail and windstorms, were used as input in a stochastic simulation model. Applications of the stochastic simulation model were illustrated under alternative risk conditions. A comparison was made between the current structure of greenhouse production and the expected structure in the next decade that differs with respect to the spatial distribution and average size.

Suggested Citation

  • M. A. P. M. Van Asseldonk & M. P. M. Meuwissen & R. B. M. Huirne, 2001. "Stochastic Simulation of Catastrophic Hail and Windstorm Indemnities in the Dutch Greenhouse Sector," Risk Analysis, John Wiley & Sons, vol. 21(4), pages 761-770, August.
    • Handle: RePEc:wly:riskan:v:21:y:2001:i:4:p:761-770
    DOI: 10.1111/0272-4332.214148
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    Cited by:

    1. W. Botzen & J. Bergh & L. Bouwer, 2010. "Climate change and increased risk for the insurance sector: a global perspective and an assessment for the Netherlands," 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. 52(3), pages 577-598, March.
    2. Huirne, R. & Meuwissen, M. & van Asseldonk, M., 2009. "Importance of risk management in agriculture," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 44, March.
    3. Botzen, W.J.W. & Bouwer, L.M. & van den Bergh, J.C.J.M., 2010. "Climate change and hailstorm damage: Empirical evidence and implications for agriculture and insurance," Resource and Energy Economics, Elsevier, vol. 32(3), pages 341-362, August.

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