Learn From International Experience Of Our Catastrophe Insurance Mechanism Design

China is always attacked by catastrophe, which cause great harm and economic losses, and badly influence economic development and social stability of the country. For example, we all can't forget snowstorm and earthquake in 2008 and drought this year, which caused significant losses and casualties to our country. In the face of huge losses, developed countries always use insurance, reinsurance and capital market to spread risk. But in China, government is always the most important entity to compensate the losses and various social sectors donate funds and materials to the disaster area, but insurance companies play very little role in the process. In the condition,China should establish catastrophe insurance system as soon as possible to spread catastrophic risk, promote economic development and maintain social stability.The article uses successful experience of other countries for reference and makes a combination with the practice of China, so as to make suggestion of how to build catastrophe insurance system in China. Except introduction, the article has five chapters:Chapter one, an overview of catastrophe risk. This chapter introduces basic conception of catastrophe risk, analyzes insurability of catastrophe risk in theory, and analyzes mechanism of catastrophe risk management. Chapter two, a comparative analysis of catastrophe insurance system in other countries. The chapter analyzes mature catastrophe insurance system in USA, England, Japan and New Zealand in detail and comparatively analyzes legal system, core institution, insured object, insurance premium and so on in these countries. Chapter three, an analysis of catastrophe insurance in China. The chapter introduces the development of catastrophe insurance mechanism in China, gives reasons why catastrophe insurance develops so slowly in China and analyzes necessity and feasibility to establish catastrophe risk system in China. Chapter four gives some suggestion of how to establish catastrophe insurance system in China:government and market should be combined, multi-level risk-sharing mechanism should be build up and government, residents, insurance companies, reinsurance companies and capital market should play different role in the catastrophe insurance system.Chapter five summarizes the article.