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State Intervention on the Market for Natural Damage Insurance in Europe

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  • Thomas von Ungern-Sternberg

Abstract

In this paper we briefly summarise the results of our studies of the property insurance market in 5 countries, Britain, Spain, France, Switzerland and Germany. We then draw conclusions, how the market for insurance against natural disasters (such as floods or subsidence) should be institutionally organised. Both for reasons of efficiency (lower administrative and sales costs) and to reduce the scope of risk selection, public monopolies should play an important role on this market. A further major advantage of the monopoly solution is the fact, that public insurers have a strong incentive to actively participate in prevention.

Suggested Citation

  • Thomas von Ungern-Sternberg, 2003. "State Intervention on the Market for Natural Damage Insurance in Europe," CESifo Working Paper Series 1067, CESifo.
    • Handle: RePEc:ces:ceswps:_1067
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    File URL: https://www.cesifo.org/DocDL/cesifo1_wp1067.pdf
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    Cited by:

    1. Hofmann, Annette, 2005. "Internalizing externalities of loss-prevention through insurance monopoly: An analysis of interdependent risks," Working Papers on Risk and Insurance 16, University of Hamburg, Institute for Risk and Insurance.
    2. Annette Hofmann, 2007. "Internalizing externalities of loss prevention through insurance monopoly: an analysis of interdependent risks," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 32(1), pages 91-111, June.

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