Insurance against Climate Change : Financial Disaster Risk Management and Insurance Options for Climate Change Adaptation in Bulgaria
Bulgaria is exposed to nearly all types of climate extremes, including floods, droughts, and others, as well as earthquakes. The combination of insurance products, early warning systems, information campaigns, infrastructure adaptation measures, an...
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| Format: | Other Environmental Study |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2014/01/19743830/insurance-against-climate-change-financial-disaster-risk-management-insurance-options-climate-change-adaptation-bulgaria http://hdl.handle.net/10986/18940 |
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okr-10986-18940 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO INFORMATION ACCIDENT ACCIDENTS AGRICULTURAL INSURANCE AUDITORS AUTOMOBILE INSURANCE BANKRUPTCY BANKS BASIS RISK BUDGETARY FRAMEWORK BUILDING CODES CASUALTY CASUALTY INSURANCE CATASTROPHE INSURANCE CATASTROPHES CATASTROPHIC EVENTS CATASTROPHIC INSURANCE CATASTROPHIC INSURANCE POOL CATASTROPHIC LOSSES CATASTROPHIC RISKS CENTRAL GOVERNMENT CLIMATE CLIMATE CHANGE CLIMATE CHANGE ADAPTATION STRATEGY CLIMATE CHANGE IMPACTS CLIMATE CHANGE ISSUES CLIMATE CHANGE MITIGATION CLIMATE CHANGE SCENARIOS CLIMATE CHANGE VULNERABILITY CLIMATE EXTREMES CLIMATE SCIENCE COINSURANCE COLLAPSED BRIDGES COMPETITIVENESS COMPULSORY INSURANCE CONSUMERS CONTINGENT LIABILITIES CONTINGENT LIABILITY DAMAGES DISASTER DISASTER ACTIVITIES DISASTER ASSISTANCE DISASTER COMPENSATION DISASTER EVENTS DISASTER FINANCING DISASTER INSURANCE DISASTER MANAGEMENT DISASTER PREPAREDNESS DISASTER RECONSTRUCTION DISASTER RESPONSE DISASTER RISK DISASTER RISK FINANCING DISASTER RISK REDUCTION DISASTER RISKS DROUGHT DROUGHTS EARLY WARNING EARLY WARNING SYSTEMS EARTHQUAKE EARTHQUAKES ECONOMIC DEVELOPMENT ECONOMIC IMPACTS ECONOMIC SECTORS ELECTRICITY PRODUCTION EMERGENCIES EMERGENCY RESPONSE EMERGENCY SITUATIONS EMISSIONS ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY USE ENVIRONMENTAL PROTECTION EQUIPMENT EXPENDITURE EXTREME CLIMATE CHANGE EXTREME EVENTS EXTREME TEMPERATURES EXTREME WEATHER FARMERS FEASIBILITY FINANCIAL CAPACITY FINANCIAL CONSEQUENCES FINANCIAL CONSTRAINTS FINANCIAL DECISIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SUPERVISION FINANCIAL SUPPORT FIRE FIRE INSURANCE FISCAL DEFICITS FLOOD FLOOD DAMAGES FLOOD MANAGEMENT FLOOD PROTECTION FLOODING FLOODS FOREIGN INVESTORS FOREST FIRES FORESTRY SECTOR FREQUENCY OF CLIMATE EXTREMES GENERAL INSURANCE GOVERNMENT BUDGET GOVERNMENT EXPENDITURES GOVERNMENT POLICIES HEALTH INSURANCE HURRICANE HURRICANE WINDS IMPACT OF DISASTERS IMPACTS OF CLIMATE CHANGE INCOME INDEMNITY INDEMNITY INSURANCE INFORMATION SYSTEMS INFRASTRUCTURE INVESTMENT INSPECTIONS INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE BROKERS INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COVERAGE INSURANCE CULTURE INSURANCE INDUSTRY INSURANCE INSTRUMENTS INSURANCE MARKET INSURANCE MARKETS INSURANCE MECHANISMS INSURANCE OPTIONS INSURANCE PAYOUT INSURANCE PENETRATION INSURANCE POLICIES INSURANCE POOLS INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURANCE SCHEMES INSURANCE SECTOR INSURANCE SYSTEM INSURED LOSSES INSURERS INTERNATIONAL STRATEGY FOR DISASTER REDUCTION INVESTMENT FUNDS LANDSLIDES LAWS LEGAL FRAMEWORK LIFE INSURANCE LIFE INSURANCE COMPANIES LIGHTING LOCAL GOVERNMENTS MARKET ECONOMY MARKET PENETRATION MITIGATION MEASURES MORAL HAZARD MORAL HAZARDS MOTOR INSURANCE NATURAL DISASTER NATURAL DISASTER INSURANCE NATURAL DISASTERS NATURAL HAZARDS NON-LIFE INSURANCE NOTARIES NUCLEAR POWER OUTBREAK PENSION PENSION FUNDS PER CAPITA INCOME PHYSICAL ASSETS POLICY MAKERS POLICYHOLDERS PORTFOLIOS PRIVATE INSURANCE PRIVATE INSURANCE COMPANIES PRIVATE REINSURANCE PRODUCT LIABILITY PROGRAMS PROPERTY INSURANCE PUBLIC ASSETS PUBLIC SPENDING RATES REAL ESTATE REGULATORY FRAMEWORK REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURANCE PREMIUMS REINSURER REINSURERS RESERVE RESERVES RISK ASSESSMENT RISK EXPOSURE RISK MANAGEMENT RISK MANAGEMENT STRATEGIES RISK MANAGERS RISK MITIGATION RISK POOLING RISK PROFILE RISK PROFILES RISK REDUCTION RISK SHARING RISK TRANSFER SAFETY SET ASIDE SOLVENCY STORMS TAX TECTONIC PLATES TOTAL COST UNDERWRITING VICTIMS WEATHER EVENTS WIND SPEED |
| spellingShingle |
ACCESS TO INFORMATION ACCIDENT ACCIDENTS AGRICULTURAL INSURANCE AUDITORS AUTOMOBILE INSURANCE BANKRUPTCY BANKS BASIS RISK BUDGETARY FRAMEWORK BUILDING CODES CASUALTY CASUALTY INSURANCE CATASTROPHE INSURANCE CATASTROPHES CATASTROPHIC EVENTS CATASTROPHIC INSURANCE CATASTROPHIC INSURANCE POOL CATASTROPHIC LOSSES CATASTROPHIC RISKS CENTRAL GOVERNMENT CLIMATE CLIMATE CHANGE CLIMATE CHANGE ADAPTATION STRATEGY CLIMATE CHANGE IMPACTS CLIMATE CHANGE ISSUES CLIMATE CHANGE MITIGATION CLIMATE CHANGE SCENARIOS CLIMATE CHANGE VULNERABILITY CLIMATE EXTREMES CLIMATE SCIENCE COINSURANCE COLLAPSED BRIDGES COMPETITIVENESS COMPULSORY INSURANCE CONSUMERS CONTINGENT LIABILITIES CONTINGENT LIABILITY DAMAGES DISASTER DISASTER ACTIVITIES DISASTER ASSISTANCE DISASTER COMPENSATION DISASTER EVENTS DISASTER FINANCING DISASTER INSURANCE DISASTER MANAGEMENT DISASTER PREPAREDNESS DISASTER RECONSTRUCTION DISASTER RESPONSE DISASTER RISK DISASTER RISK FINANCING DISASTER RISK REDUCTION DISASTER RISKS DROUGHT DROUGHTS EARLY WARNING EARLY WARNING SYSTEMS EARTHQUAKE EARTHQUAKES ECONOMIC DEVELOPMENT ECONOMIC IMPACTS ECONOMIC SECTORS ELECTRICITY PRODUCTION EMERGENCIES EMERGENCY RESPONSE EMERGENCY SITUATIONS EMISSIONS ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY USE ENVIRONMENTAL PROTECTION EQUIPMENT EXPENDITURE EXTREME CLIMATE CHANGE EXTREME EVENTS EXTREME TEMPERATURES EXTREME WEATHER FARMERS FEASIBILITY FINANCIAL CAPACITY FINANCIAL CONSEQUENCES FINANCIAL CONSTRAINTS FINANCIAL DECISIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SUPERVISION FINANCIAL SUPPORT FIRE FIRE INSURANCE FISCAL DEFICITS FLOOD FLOOD DAMAGES FLOOD MANAGEMENT FLOOD PROTECTION FLOODING FLOODS FOREIGN INVESTORS FOREST FIRES FORESTRY SECTOR FREQUENCY OF CLIMATE EXTREMES GENERAL INSURANCE GOVERNMENT BUDGET GOVERNMENT EXPENDITURES GOVERNMENT POLICIES HEALTH INSURANCE HURRICANE HURRICANE WINDS IMPACT OF DISASTERS IMPACTS OF CLIMATE CHANGE INCOME INDEMNITY INDEMNITY INSURANCE INFORMATION SYSTEMS INFRASTRUCTURE INVESTMENT INSPECTIONS INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE BROKERS INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COVERAGE INSURANCE CULTURE INSURANCE INDUSTRY INSURANCE INSTRUMENTS INSURANCE MARKET INSURANCE MARKETS INSURANCE MECHANISMS INSURANCE OPTIONS INSURANCE PAYOUT INSURANCE PENETRATION INSURANCE POLICIES INSURANCE POOLS INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURANCE SCHEMES INSURANCE SECTOR INSURANCE SYSTEM INSURED LOSSES INSURERS INTERNATIONAL STRATEGY FOR DISASTER REDUCTION INVESTMENT FUNDS LANDSLIDES LAWS LEGAL FRAMEWORK LIFE INSURANCE LIFE INSURANCE COMPANIES LIGHTING LOCAL GOVERNMENTS MARKET ECONOMY MARKET PENETRATION MITIGATION MEASURES MORAL HAZARD MORAL HAZARDS MOTOR INSURANCE NATURAL DISASTER NATURAL DISASTER INSURANCE NATURAL DISASTERS NATURAL HAZARDS NON-LIFE INSURANCE NOTARIES NUCLEAR POWER OUTBREAK PENSION PENSION FUNDS PER CAPITA INCOME PHYSICAL ASSETS POLICY MAKERS POLICYHOLDERS PORTFOLIOS PRIVATE INSURANCE PRIVATE INSURANCE COMPANIES PRIVATE REINSURANCE PRODUCT LIABILITY PROGRAMS PROPERTY INSURANCE PUBLIC ASSETS PUBLIC SPENDING RATES REAL ESTATE REGULATORY FRAMEWORK REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURANCE PREMIUMS REINSURER REINSURERS RESERVE RESERVES RISK ASSESSMENT RISK EXPOSURE RISK MANAGEMENT RISK MANAGEMENT STRATEGIES RISK MANAGERS RISK MITIGATION RISK POOLING RISK PROFILE RISK PROFILES RISK REDUCTION RISK SHARING RISK TRANSFER SAFETY SET ASIDE SOLVENCY STORMS TAX TECTONIC PLATES TOTAL COST UNDERWRITING VICTIMS WEATHER EVENTS WIND SPEED World Bank Group Insurance against Climate Change : Financial Disaster Risk Management and Insurance Options for Climate Change Adaptation in Bulgaria |
| geographic_facet |
Europe and Central Asia Bulgaria |
| description |
Bulgaria is exposed to nearly all types
of climate extremes, including floods, droughts, and others,
as well as earthquakes. The combination of insurance
products, early warning systems, information campaigns,
infrastructure adaptation measures, and strict regulations
can be very useful in tackling the negative climate change
impacts. This note provides an overview of the insurance
sector s contribution to climate change - related risk
prevention and highlights some of Bulgaria s ongoing
disaster risk management (DRM) efforts. The note aims to
raise awareness and emphasize the role that financial
disaster risk management (FDRM), including insurance, can
have in climate change adaptation. Based on a desk review
and preliminary in-country stakeholder consultations, the
note s findings are meant to motivate new thinking and serve
as an engagement tool for ongoing in-country discussions, as
well to help identify analytical work to be carried out in
the future. Based on the preliminary review of Bulgaria s
specific context, several ideas are being put forward to be
further explored in the ongoing discussions toward creating
FDRM products to address the major natural disasters (in
particular, floods, droughts, and earthquakes) and improving
adaptation to climate change. Potential areas of analysis
that can be further explored and, as such, plant a seed for
future action can focus on promoting risk prevention and
deploying insurance instruments, including issues around
traditional risk management, technology innovation,
compulsory disaster insurance, forecast insurance, and
disaster insurance pools. The analysis which will assess the
extent of vulnerability of the subjects covered by existing
insurance products, can subsequently lead to the decisions
on priority insurance products to be introduced in the future. |
| format |
Economic & Sector Work :: Other Environmental Study |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Insurance against Climate Change : Financial Disaster Risk Management and Insurance Options for Climate Change Adaptation in Bulgaria |
| title_short |
Insurance against Climate Change : Financial Disaster Risk Management and Insurance Options for Climate Change Adaptation in Bulgaria |
| title_full |
Insurance against Climate Change : Financial Disaster Risk Management and Insurance Options for Climate Change Adaptation in Bulgaria |
| title_fullStr |
Insurance against Climate Change : Financial Disaster Risk Management and Insurance Options for Climate Change Adaptation in Bulgaria |
| title_full_unstemmed |
Insurance against Climate Change : Financial Disaster Risk Management and Insurance Options for Climate Change Adaptation in Bulgaria |
| title_sort |
insurance against climate change : financial disaster risk management and insurance options for climate change adaptation in bulgaria |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/01/19743830/insurance-against-climate-change-financial-disaster-risk-management-insurance-options-climate-change-adaptation-bulgaria http://hdl.handle.net/10986/18940 |
| _version_ |
1764443401717022720 |
| spelling |
okr-10986-189402021-04-23T14:03:51Z Insurance against Climate Change : Financial Disaster Risk Management and Insurance Options for Climate Change Adaptation in Bulgaria World Bank Group ACCESS TO INFORMATION ACCIDENT ACCIDENTS AGRICULTURAL INSURANCE AUDITORS AUTOMOBILE INSURANCE BANKRUPTCY BANKS BASIS RISK BUDGETARY FRAMEWORK BUILDING CODES CASUALTY CASUALTY INSURANCE CATASTROPHE INSURANCE CATASTROPHES CATASTROPHIC EVENTS CATASTROPHIC INSURANCE CATASTROPHIC INSURANCE POOL CATASTROPHIC LOSSES CATASTROPHIC RISKS CENTRAL GOVERNMENT CLIMATE CLIMATE CHANGE CLIMATE CHANGE ADAPTATION STRATEGY CLIMATE CHANGE IMPACTS CLIMATE CHANGE ISSUES CLIMATE CHANGE MITIGATION CLIMATE CHANGE SCENARIOS CLIMATE CHANGE VULNERABILITY CLIMATE EXTREMES CLIMATE SCIENCE COINSURANCE COLLAPSED BRIDGES COMPETITIVENESS COMPULSORY INSURANCE CONSUMERS CONTINGENT LIABILITIES CONTINGENT LIABILITY DAMAGES DISASTER DISASTER ACTIVITIES DISASTER ASSISTANCE DISASTER COMPENSATION DISASTER EVENTS DISASTER FINANCING DISASTER INSURANCE DISASTER MANAGEMENT DISASTER PREPAREDNESS DISASTER RECONSTRUCTION DISASTER RESPONSE DISASTER RISK DISASTER RISK FINANCING DISASTER RISK REDUCTION DISASTER RISKS DROUGHT DROUGHTS EARLY WARNING EARLY WARNING SYSTEMS EARTHQUAKE EARTHQUAKES ECONOMIC DEVELOPMENT ECONOMIC IMPACTS ECONOMIC SECTORS ELECTRICITY PRODUCTION EMERGENCIES EMERGENCY RESPONSE EMERGENCY SITUATIONS EMISSIONS ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY USE ENVIRONMENTAL PROTECTION EQUIPMENT EXPENDITURE EXTREME CLIMATE CHANGE EXTREME EVENTS EXTREME TEMPERATURES EXTREME WEATHER FARMERS FEASIBILITY FINANCIAL CAPACITY FINANCIAL CONSEQUENCES FINANCIAL CONSTRAINTS FINANCIAL DECISIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SUPERVISION FINANCIAL SUPPORT FIRE FIRE INSURANCE FISCAL DEFICITS FLOOD FLOOD DAMAGES FLOOD MANAGEMENT FLOOD PROTECTION FLOODING FLOODS FOREIGN INVESTORS FOREST FIRES FORESTRY SECTOR FREQUENCY OF CLIMATE EXTREMES GENERAL INSURANCE GOVERNMENT BUDGET GOVERNMENT EXPENDITURES GOVERNMENT POLICIES HEALTH INSURANCE HURRICANE HURRICANE WINDS IMPACT OF DISASTERS IMPACTS OF CLIMATE CHANGE INCOME INDEMNITY INDEMNITY INSURANCE INFORMATION SYSTEMS INFRASTRUCTURE INVESTMENT INSPECTIONS INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE BROKERS INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COVERAGE INSURANCE CULTURE INSURANCE INDUSTRY INSURANCE INSTRUMENTS INSURANCE MARKET INSURANCE MARKETS INSURANCE MECHANISMS INSURANCE OPTIONS INSURANCE PAYOUT INSURANCE PENETRATION INSURANCE POLICIES INSURANCE POOLS INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURANCE SCHEMES INSURANCE SECTOR INSURANCE SYSTEM INSURED LOSSES INSURERS INTERNATIONAL STRATEGY FOR DISASTER REDUCTION INVESTMENT FUNDS LANDSLIDES LAWS LEGAL FRAMEWORK LIFE INSURANCE LIFE INSURANCE COMPANIES LIGHTING LOCAL GOVERNMENTS MARKET ECONOMY MARKET PENETRATION MITIGATION MEASURES MORAL HAZARD MORAL HAZARDS MOTOR INSURANCE NATURAL DISASTER NATURAL DISASTER INSURANCE NATURAL DISASTERS NATURAL HAZARDS NON-LIFE INSURANCE NOTARIES NUCLEAR POWER OUTBREAK PENSION PENSION FUNDS PER CAPITA INCOME PHYSICAL ASSETS POLICY MAKERS POLICYHOLDERS PORTFOLIOS PRIVATE INSURANCE PRIVATE INSURANCE COMPANIES PRIVATE REINSURANCE PRODUCT LIABILITY PROGRAMS PROPERTY INSURANCE PUBLIC ASSETS PUBLIC SPENDING RATES REAL ESTATE REGULATORY FRAMEWORK REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURANCE PREMIUMS REINSURER REINSURERS RESERVE RESERVES RISK ASSESSMENT RISK EXPOSURE RISK MANAGEMENT RISK MANAGEMENT STRATEGIES RISK MANAGERS RISK MITIGATION RISK POOLING RISK PROFILE RISK PROFILES RISK REDUCTION RISK SHARING RISK TRANSFER SAFETY SET ASIDE SOLVENCY STORMS TAX TECTONIC PLATES TOTAL COST UNDERWRITING VICTIMS WEATHER EVENTS WIND SPEED Bulgaria is exposed to nearly all types of climate extremes, including floods, droughts, and others, as well as earthquakes. The combination of insurance products, early warning systems, information campaigns, infrastructure adaptation measures, and strict regulations can be very useful in tackling the negative climate change impacts. This note provides an overview of the insurance sector s contribution to climate change - related risk prevention and highlights some of Bulgaria s ongoing disaster risk management (DRM) efforts. The note aims to raise awareness and emphasize the role that financial disaster risk management (FDRM), including insurance, can have in climate change adaptation. Based on a desk review and preliminary in-country stakeholder consultations, the note s findings are meant to motivate new thinking and serve as an engagement tool for ongoing in-country discussions, as well to help identify analytical work to be carried out in the future. Based on the preliminary review of Bulgaria s specific context, several ideas are being put forward to be further explored in the ongoing discussions toward creating FDRM products to address the major natural disasters (in particular, floods, droughts, and earthquakes) and improving adaptation to climate change. Potential areas of analysis that can be further explored and, as such, plant a seed for future action can focus on promoting risk prevention and deploying insurance instruments, including issues around traditional risk management, technology innovation, compulsory disaster insurance, forecast insurance, and disaster insurance pools. The analysis which will assess the extent of vulnerability of the subjects covered by existing insurance products, can subsequently lead to the decisions on priority insurance products to be introduced in the future. 2014-07-21T16:25:34Z 2014-07-21T16:25:34Z 2014 http://documents.worldbank.org/curated/en/2014/01/19743830/insurance-against-climate-change-financial-disaster-risk-management-insurance-options-climate-change-adaptation-bulgaria http://hdl.handle.net/10986/18940 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Other Environmental Study Europe and Central Asia Bulgaria |