The Research On The Construction Of Flood Insurance Mode In China

Flood insurance belongs to catastrophe insurance. Due to the research on catastrophe insurance is much less mature, and insurance companies don't have flood insurance policy in China, the study of flood insurance is backward relatively. The domestic experts'studies are limited to the qualitative analysis, such as the choice of flood insurance patterns, the establishment of flood insurance systems and so on. But the quantitative analysis, such as the pricing and loss assessment of flood insurance are very rare. There is no unanimously recognized flood insurance model so far. This paper used the GIS & DEM models and market valuation method (CVM) to analyze the effectiveness of different pattern, which combined with the results of survey on the region's WTP. Then predicted the county's flood insurance loss,with a view to provide some suggestions on constructing flood insurance model.The purpose of this thesis is to put forward a reasonable model of flood insurance combined with China's national conditions,which draw on the experience of other international catastrophe insurance model. Centering on this theme, this paper do research from three aspects. Firstly, we analyzed the international flood insurance models and classified them as government-led business model, government support of the Co-operative business model and the government in cooperation with the market-oriented model. Then analyze the main advantages and shortcomings of the various models. Secondly, we collected the flood losses of the county A over the years, and divided the insured property into comprehensive and meticulous classes. In accordance with different uses and construction types, we classified the buildings. With this classification, we investigated the buildings. We compared the research results with the history data of the county A , then made certain adjustments to generate predicted flood insurance gross premiums. Thirdly, we used the Conditional Valuation Method to get the average willingness to pay for flood insurance by using payment cards to county A's residents. Then estimate the average acceptable premium level for local people, which produced by the actual number of households and population of the local respondents willingness to pay (WTP).Finally, according to international successful experience of flood insurance,this dissertation design three kinds of available options, then combined GIS & DEM and Monte Carlo simulation to detect the spread between total premium and the public acceptable premium for respective levels of start-up capital. In the end, the dissertation put forward some proposals to build our own flood insurance model.