Initial Market Assessment : Country Note--Vietnam
Responding appropriately to the country’s high exposure and vulnerability to natural disasters, and capitalizing on a well-functioning insurance industry, Vietnam has embraced insurance mechanisms in disaster risk management and agriculture more vi...
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| Format: | Report |
| Language: | English en_US |
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2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24788554/initial-market-assessment-country-note-vietnam http://hdl.handle.net/10986/22425 |
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okr-10986-22425 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English en_US |
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FLOODING DISASTER ASSISTANCE CATASTROPHIC EVENTS CONTINGENT LIABILITIES RISKS CATASTROPHIC LOSSES RESCUE LIABILITY EQUIPMENT ACCOUNTING STORM DISASTER RECOVERY EARLY WARNING GROUPS OF BORROWERS UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT RISK REDUCTION FINANCIAL MANAGEMENT INTEREST LIFE INSURANCE STORMS LOCAL GOVERNMENTS INSURER LIQUIDITY DOMESTIC MARKET DEVELOPING COUNTRIES REPAYMENTS INSURANCE POLICIES BONDS RECOVERY OPERATIONS LOAN CAPACITY BUILDING DISASTER BORROWERS PRIVATE INSURANCE DAMAGES PUBLIC ASSETS EMERGENCY RELIEF MARKET INFRASTRUCTURE DISASTER PREVENTION TREATIES RESERVE LIFE INSURANCE POLICIES EARTHQUAKES INSTRUMENTS INSURANCE MARKET DISPUTE RESOLUTION TSUNAMIS DISASTER EMERGENCY BUDGET ACCIDENT DISASTER RELIEF REINSURERS RELIEF LEGISLATIVE FRAMEWORK NATURAL DISASTER DISASTER RESPONSE INSURANCE MARKETS WIND STORM FLOODS OPTIONS NATURAL HAZARD NATURAL DISASTERS MARKETS DOCUMENTS LOCAL GOVERNMENT INTERNATIONAL DEVELOPMENT LOAN REPAYMENTS TYPHOON DISASTERS INSURERS EMERGENCY RESPONSE FIRE LOANS FARMERS LANDSLIDES FAMINE FINANCE PUBLIC INVESTMENT CONTINGENT LIABILITY EXPENDITURE FLOOD INSURANCE TECHNOLOGY REINSURANCE EQUITY TRANSACTION DAMAGE ASSESSMENT DISASTER RECONSTRUCTION EMERGENCY DISASTER REDUCTION RELIEF ACTIVITIES DISASTER RISK CLIMATE CHANGE DROUGHT FIRES TENTS FUTURE BANK LOCAL MARKET DISASTER PRONE COUNTRIES BUDGETS RESERVE FUNDS AGRICULTURAL INSURANCE MICROINSURANCE EXCHANGES SAFETY NET CATASTROPHE BONDS DAMAGE EXPENDITURES PROPERTY NATURAL CATASTROPHE INSURANCE INDUSTRY TROPICAL STORMS DISASTER INSURANCE DISASTER PREPAREDNESS INSTITUTIONAL CAPACITY DISASTER MANAGEMENT MARKET FLOOD CREDIT GUARANTEE HOLDINGS INSURANCE ECONOMIC DEVELOPMENT MARKET SHARE SECURITY INTERNATIONAL MARKET INVESTMENT RISK SHARE ACCIDENTS TREATY DISASTER RISKS PHYSICAL DAMAGE DISASTER RISK REDUCTION INSTITUTIONAL DEVELOPMENT FOREST FIRES REVENUE INVESTMENTS RISK MANAGEMENT INSURANCE COMPANIES GOVERNMENT INVESTMENT MEDICINES CAPITAL INVESTMENT LIABILITIES SAFETY INSURANCE PENETRATION NATURAL HAZARDS TYPHOONS DAMAGE ASSESSMENTS GUARANTEE DEVELOPMENT BANK RECONSTRUCTION BLANKETS RISK ANALYSIS |
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FLOODING DISASTER ASSISTANCE CATASTROPHIC EVENTS CONTINGENT LIABILITIES RISKS CATASTROPHIC LOSSES RESCUE LIABILITY EQUIPMENT ACCOUNTING STORM DISASTER RECOVERY EARLY WARNING GROUPS OF BORROWERS UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT RISK REDUCTION FINANCIAL MANAGEMENT INTEREST LIFE INSURANCE STORMS LOCAL GOVERNMENTS INSURER LIQUIDITY DOMESTIC MARKET DEVELOPING COUNTRIES REPAYMENTS INSURANCE POLICIES BONDS RECOVERY OPERATIONS LOAN CAPACITY BUILDING DISASTER BORROWERS PRIVATE INSURANCE DAMAGES PUBLIC ASSETS EMERGENCY RELIEF MARKET INFRASTRUCTURE DISASTER PREVENTION TREATIES RESERVE LIFE INSURANCE POLICIES EARTHQUAKES INSTRUMENTS INSURANCE MARKET DISPUTE RESOLUTION TSUNAMIS DISASTER EMERGENCY BUDGET ACCIDENT DISASTER RELIEF REINSURERS RELIEF LEGISLATIVE FRAMEWORK NATURAL DISASTER DISASTER RESPONSE INSURANCE MARKETS WIND STORM FLOODS OPTIONS NATURAL HAZARD NATURAL DISASTERS MARKETS DOCUMENTS LOCAL GOVERNMENT INTERNATIONAL DEVELOPMENT LOAN REPAYMENTS TYPHOON DISASTERS INSURERS EMERGENCY RESPONSE FIRE LOANS FARMERS LANDSLIDES FAMINE FINANCE PUBLIC INVESTMENT CONTINGENT LIABILITY EXPENDITURE FLOOD INSURANCE TECHNOLOGY REINSURANCE EQUITY TRANSACTION DAMAGE ASSESSMENT DISASTER RECONSTRUCTION EMERGENCY DISASTER REDUCTION RELIEF ACTIVITIES DISASTER RISK CLIMATE CHANGE DROUGHT FIRES TENTS FUTURE BANK LOCAL MARKET DISASTER PRONE COUNTRIES BUDGETS RESERVE FUNDS AGRICULTURAL INSURANCE MICROINSURANCE EXCHANGES SAFETY NET CATASTROPHE BONDS DAMAGE EXPENDITURES PROPERTY NATURAL CATASTROPHE INSURANCE INDUSTRY TROPICAL STORMS DISASTER INSURANCE DISASTER PREPAREDNESS INSTITUTIONAL CAPACITY DISASTER MANAGEMENT MARKET FLOOD CREDIT GUARANTEE HOLDINGS INSURANCE ECONOMIC DEVELOPMENT MARKET SHARE SECURITY INTERNATIONAL MARKET INVESTMENT RISK SHARE ACCIDENTS TREATY DISASTER RISKS PHYSICAL DAMAGE DISASTER RISK REDUCTION INSTITUTIONAL DEVELOPMENT FOREST FIRES REVENUE INVESTMENTS RISK MANAGEMENT INSURANCE COMPANIES GOVERNMENT INVESTMENT MEDICINES CAPITAL INVESTMENT LIABILITIES SAFETY INSURANCE PENETRATION NATURAL HAZARDS TYPHOONS DAMAGE ASSESSMENTS GUARANTEE DEVELOPMENT BANK RECONSTRUCTION BLANKETS RISK ANALYSIS World Bank Initial Market Assessment : Country Note--Vietnam |
| geographic_facet |
East Asia and Pacific Vietnam |
| relation |
Political Champions Group country note; |
| description |
Responding appropriately to the
country’s high exposure and vulnerability to natural
disasters, and capitalizing on a well-functioning insurance
industry, Vietnam has embraced insurance mechanisms in
disaster risk management and agriculture more vigorously
than most developing countries. But some initiatives like
the disaster risk reduction (DRR) strategy’s mandate to
implement disaster risk insurance are yet to be conceived,
while others such as the agriculture insurance scheme have
been launched but experienced unsustainable outcomes and
need strengthening. Technical assistance to guide this
process can have substantial impact, and could include the
consolidation of available risk modeling and hazard maps and
closing major gaps these may have. Appropriate insurance of
public assets will further strengthen the property insurance
sector and justify investment in risk models and
underwriting expertise that will subsequently be available
for businesses and households. A public private partnership
pursuing flood insurance for the urban poor in collaboration
with existing community-based Disaster Risk Management
programs could capitalize on the nascent micro-insurance
market and further strengthen inclusive insurance. Vietnam
has strong appetite for agriculture and catastrophe property
insurance, and the governance structure as well as insurance
industry to secure the desired impact of investments. Better
incorporating agriculture and catastrophe property insurance
principles in social safety net programs could increase the
protection of larger populations. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Initial Market Assessment : Country Note--Vietnam |
| title_short |
Initial Market Assessment : Country Note--Vietnam |
| title_full |
Initial Market Assessment : Country Note--Vietnam |
| title_fullStr |
Initial Market Assessment : Country Note--Vietnam |
| title_full_unstemmed |
Initial Market Assessment : Country Note--Vietnam |
| title_sort |
initial market assessment : country note--vietnam |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/07/24788554/initial-market-assessment-country-note-vietnam http://hdl.handle.net/10986/22425 |
| _version_ |
1764451045861228544 |
| spelling |
okr-10986-224252021-04-23T14:04:08Z Initial Market Assessment : Country Note--Vietnam World Bank FLOODING DISASTER ASSISTANCE CATASTROPHIC EVENTS CONTINGENT LIABILITIES RISKS CATASTROPHIC LOSSES RESCUE LIABILITY EQUIPMENT ACCOUNTING STORM DISASTER RECOVERY EARLY WARNING GROUPS OF BORROWERS UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT RISK REDUCTION FINANCIAL MANAGEMENT INTEREST LIFE INSURANCE STORMS LOCAL GOVERNMENTS INSURER LIQUIDITY DOMESTIC MARKET DEVELOPING COUNTRIES REPAYMENTS INSURANCE POLICIES BONDS RECOVERY OPERATIONS LOAN CAPACITY BUILDING DISASTER BORROWERS PRIVATE INSURANCE DAMAGES PUBLIC ASSETS EMERGENCY RELIEF MARKET INFRASTRUCTURE DISASTER PREVENTION TREATIES RESERVE LIFE INSURANCE POLICIES EARTHQUAKES INSTRUMENTS INSURANCE MARKET DISPUTE RESOLUTION TSUNAMIS DISASTER EMERGENCY BUDGET ACCIDENT DISASTER RELIEF REINSURERS RELIEF LEGISLATIVE FRAMEWORK NATURAL DISASTER DISASTER RESPONSE INSURANCE MARKETS WIND STORM FLOODS OPTIONS NATURAL HAZARD NATURAL DISASTERS MARKETS DOCUMENTS LOCAL GOVERNMENT INTERNATIONAL DEVELOPMENT LOAN REPAYMENTS TYPHOON DISASTERS INSURERS EMERGENCY RESPONSE FIRE LOANS FARMERS LANDSLIDES FAMINE FINANCE PUBLIC INVESTMENT CONTINGENT LIABILITY EXPENDITURE FLOOD INSURANCE TECHNOLOGY REINSURANCE EQUITY TRANSACTION DAMAGE ASSESSMENT DISASTER RECONSTRUCTION EMERGENCY DISASTER REDUCTION RELIEF ACTIVITIES DISASTER RISK CLIMATE CHANGE DROUGHT FIRES TENTS FUTURE BANK LOCAL MARKET DISASTER PRONE COUNTRIES BUDGETS RESERVE FUNDS AGRICULTURAL INSURANCE MICROINSURANCE EXCHANGES SAFETY NET CATASTROPHE BONDS DAMAGE EXPENDITURES PROPERTY NATURAL CATASTROPHE INSURANCE INDUSTRY TROPICAL STORMS DISASTER INSURANCE DISASTER PREPAREDNESS INSTITUTIONAL CAPACITY DISASTER MANAGEMENT MARKET FLOOD CREDIT GUARANTEE HOLDINGS INSURANCE ECONOMIC DEVELOPMENT MARKET SHARE SECURITY INTERNATIONAL MARKET INVESTMENT RISK SHARE ACCIDENTS TREATY DISASTER RISKS PHYSICAL DAMAGE DISASTER RISK REDUCTION INSTITUTIONAL DEVELOPMENT FOREST FIRES REVENUE INVESTMENTS RISK MANAGEMENT INSURANCE COMPANIES GOVERNMENT INVESTMENT MEDICINES CAPITAL INVESTMENT LIABILITIES SAFETY INSURANCE PENETRATION NATURAL HAZARDS TYPHOONS DAMAGE ASSESSMENTS GUARANTEE DEVELOPMENT BANK RECONSTRUCTION BLANKETS RISK ANALYSIS Responding appropriately to the country’s high exposure and vulnerability to natural disasters, and capitalizing on a well-functioning insurance industry, Vietnam has embraced insurance mechanisms in disaster risk management and agriculture more vigorously than most developing countries. But some initiatives like the disaster risk reduction (DRR) strategy’s mandate to implement disaster risk insurance are yet to be conceived, while others such as the agriculture insurance scheme have been launched but experienced unsustainable outcomes and need strengthening. Technical assistance to guide this process can have substantial impact, and could include the consolidation of available risk modeling and hazard maps and closing major gaps these may have. Appropriate insurance of public assets will further strengthen the property insurance sector and justify investment in risk models and underwriting expertise that will subsequently be available for businesses and households. A public private partnership pursuing flood insurance for the urban poor in collaboration with existing community-based Disaster Risk Management programs could capitalize on the nascent micro-insurance market and further strengthen inclusive insurance. Vietnam has strong appetite for agriculture and catastrophe property insurance, and the governance structure as well as insurance industry to secure the desired impact of investments. Better incorporating agriculture and catastrophe property insurance principles in social safety net programs could increase the protection of larger populations. 2015-08-17T15:46:13Z 2015-08-17T15:46:13Z 2013-09-22 Report http://documents.worldbank.org/curated/en/2015/07/24788554/initial-market-assessment-country-note-vietnam http://hdl.handle.net/10986/22425 English en_US Political Champions Group country note; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Economic & Sector Work Economic & Sector Work :: Other Financial Sector Study East Asia and Pacific Vietnam |