On The Construction Of Insurance System Of Major Natural Disasters In China

Disasters as a risk, its occurrence will lead to serious economic and social losses. China is a country which often occurs natural disasters. In 2008, China's snow disaster," Wenchuan" earthquake and a series of major natural disasters take place one after another. Natural disasters are a normal state in our country, so disaster relief should be a system. At present, our country usually use the administrative way to carry out disaster management and relief and the Government has assumed more responsibility for disaster compensation, along with lack of market-oriented coping mechanisms. Construction of an effective system of disaster relief has become a realistic need, but insurance as an effective tool for risk diversification and transfer is not applied by us in the snowstorm and "Wenchuan" earthquake. Although the insurance trade played a large role in the process of post-disaster relief ,the overall payment rate is still small, which reflect a series of questions ,such as the not wide of the coverage of the insurance trade, Loss Prevention in place, the fault of emergency response mechanisms, and the imperfections of the management of major natural disaster risk. Therefore, based on the realistic needs, this article through the use of new public management theory, theory of institutional change, risk management theory, behavioral finance theory, the comprehensive comparison of major natural disaster insurance model of part of a typical domestic and foreign countries and regions, and the example of Wenchuan" earthquake that analyze the impact of lack of insurance system and the factors constraining their development ,want to provide some useful inspiration for the construction insurance system of major natural disasters.Mainly, this article is divided into four parts:The first part is an overview for the major natural disaster insurance system , which briefly introduce the relevant theories and define the concept involving the definition. Moreover, this part analyze the status and significance of insurance system of major natural disaster The second part is the comparison and inspiration of model for the major natural disasters and foreign insurance system .This part Comprehensive analyze and compare the model of insurance system for major natural disaster of Taiwan, the United States, New Zeal and Japan. Combined with the reality of our country, this part put forward the advice of construction of insurance system of the major natural disaster.The third part analyzes status quo and the reason of lack of major natural disaster insurance from the Wenchuan earthquake. Moreover, this part analyze he influence of loss of insurance system of major natural disaster and factor of restricting the development of insurance system of major natural disaster from The function of insurance system of Wenchuan earthquake.The fourth part is the construction of insurance system of major natural disaster, which put forward some suggestions for construction of institutional framework of the insurance system of major natural disasters and the innovation of financial system.