Italy

Monti, Alberto; Chiaves, Filippo Andrea

doi:10.1007/3-211-33775-x_6

Cited by 9 publications

(37 citation statements)

References 9 publications

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“…27 Priest (1996); Harrington (2000). 28 Monti and Chiaves (2006 29 When people place zero weight on the probability of suffering a loss, they will not consider an insurance purchase worthwhile, even when insurance is available at a subsidised rate; this result is consistent with experimental studies.…”

supporting

confidence: 54%

Proposal for a National Earthquake Insurance Programme for Greece

Petseti

Nektarios

2012

Geneva Pap Risk Insur Issues Pract

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It is proposed that Greece undertakes the establishment of a national earthquake insurance programme for homeowners that will replace the ex post disaster relief by the State when an earthquake occurs. Greece is seismically the most active region in the whole Mediterranean. By employing four different catastrophe models, it has been estimated that the economic loss to the residential stock of a 1-in-200 year event is likely to be greater than 22 billion euros; for a 1-in-100 year event is about 14 billion euros; for an 1-in-25 year event is 5 billion euros; and for a 1-in-5 year event is 1.3 billion euros. This potential loss severity exposes the inherent limitations of the ex post funding approach to natural disasters adopted by successive Greek governments and underscores the urgent need for establishing a National Earthquake Insurance Programme. It is proposed that the earthquake coverage should be compulsory and the management of the insurance programme be based on the principle of a public-private partnership. The objective of the programme would be to provide affordable earthquake insurance, up to a maximum amount, to all homeowners, on the basis of risk-based premiums. A comprehensive and unique data bank of the residential stock in the country has been developed, which will be very useful to the local insurance industry as well as to reinsurers.

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supporting

confidence: 54%

Proposal for a National Earthquake Insurance Programme for Greece

Petseti

Nektarios

2012

Geneva Pap Risk Insur Issues Pract

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show abstract

“…41 However, under general tortious liability according to § 1295(1) ABGB, statutory and non-statutory technical standards are equally important as regards definitions of the general duty of care. As an example, the OGH has declared that Ö-Normen contain a summary of habitual due care requirements.…”

Section: Safety Regulations and Provisions Aiming At Environmental IImentioning

confidence: 99%

“…Quarries [1957] 2 QB 169. 41 Private acts of Parliament are not initiated by the government, but instead result from a procedure whereby Parliament is petitioned (for example, by a company) to exercise its legislative powers with reference to a particular project or activity.…”

Section: General Imentioning

confidence: 99%

“…2 EGBGB 38 and regularly the same is true for administrative directives (Allgemeine Verwaltungs vorschriften) because they only bind the authorities when executing administrative law but do not determine rights or obligations in the external relationship between the administration and the individual 39 and for private standards such as, for example, DIN-standards of the German Standards Institute (Deutsches Institut für Normung, DIN) 40 because private standardisation organisations lack legislative power. 41 Accordingly, if a norm refers to such standards, only the norm itself may be regarded as a protective statute under § 823 subs. 2 BGB.…”

Section: Regulations Official Notifications) Can In the Case Of Theimentioning

confidence: 99%

“…The purpose of technical standards in the field of environmental law is therefore not only to restrict but also to enable technical innovation. 102 This is true in particular for immission control laws where the protection of the individual depends to a great extent on marginal values (Grenzwerte) for all kinds of emissions or immissions. Marginal values do not necessarily represent a maximum of safety and environmental protection but are based on prognosis and evaluation including policy considerations and therefore often accept a residual risk.…”

Section: Safety Regulations and Provisions Aiming At Environmental IImentioning

confidence: 99%

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