Karadjova, Vera (2016) INSURANCE – KEY STRATEGY FOR MANAGING CATASTROPHIC RISKS. In: Fifth International Scientific Conference EMPLOYMENT, EDUCATION AND ENTREPRENEURSHIP (EEE2016), Volume: SERBIAN ROAD TO THE EU: FINANCE, INSURANCE AND MONETARY POLICY, 2016, Belgrade, Serbia.
Full text not available from this repository.Abstract
Risks are inevitable, objective category faced by all people and all business entities and they are widespread in all areas of human existence. Risks as an objective category exist regardless of the people wishes and needs and regardless of the level of the human community development. Despite the fact that by the science and technology development a number of risks belong to history (epidemics, some once-fatal diseases etc.), there are also a number of risks that people in modern conditions cannot resist. In this category the greatest threats are so-called catastrophic risks in which there are two main categories: (1) Climate changes; and (2) Natural disasters (earthquakes, floods, etc.). This paper concerns to the need of insurance against catastrophic risks, as one of the strategies to manage these risks. It is about risk hedging that is not an immediate and technical, but indirect, have an economic nature and is achieved by compensating the damages by association; risk sharing and jointly covering of the damages. Key words: catastrophic risks, insurance, natural disasters, climate changes, uncertainty JEL Classification: G22, G32
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Scientific Fields (Frascati) > Social Sciences > Economics and Business |
| Divisions: | Faculty of Tourism and Hospitality |
| Depositing User: | Mr Bojan Sekulovski |
| Date Deposited: | 06 Nov 2017 12:17 |
| Last Modified: | 13 May 2019 09:45 |
| URI: | https://eprints.uklo.edu.mk/id/eprint/914 |
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