Compensation for Victims of Disasters

Abstract

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The possibilities and limits of insurance as governance in insuring pandemics

“…An important feature of such a new model is that the governance of disaster risks can be distinguished in three different phases whereby there are different roles for the government and insurers. Corresponding to a repetitive circle of catastrophe management as prevention–response–recovery (Cedervall Lauta 2015 ), we assess and allocate the ex ante, during and ex post compensation mechanisms (Dari-Mattiacci and Faure 2015 ; He and Faure 2021 ).…”

“…During efforts are carried out when a state of emergency is declared. Government, rather than private (insurance) governance, plays a vital role during crisis management due to government efficacy capability in emergency management (He and Faure 2021 ). This type of government intervention has a legitimate justification due to its public good nature, especially in the immediate aftermath of pandemics.…”