Family Property Insurance Mechanism Research In Seismic Risk

China, which lies between the Eurasian seismic zone and the circum-Pacific seismic zone, is an earthquake-prone country. Earthquakes are most common in23seismic zones of5sections. Since2007, there were average27earthquakes over5scales of magnitude in China each year, resulting in about130,000houses damaged. The annual direct economic loss hit9billion Yuan. In china, financial relief and public donation are often taken to compensate for the earthquake losses. Those measures are considered inefficient and deficient. Meanwhile, insurance mechanism plays a limited role in compensation. For example, the insurance compensation for the Wenchuan earthquake accounted for less than3%of the total loss, which was up to845.1billion yuan. Among the3%, most were compensated to enterprises, while few were indemnified for housing losses. As the basic social unit, family has very low earthquake-risk tolerance capacity. Government’s subsidies are only enough to meet the basic needs of life. The lack of earthquake insurance on the family property expose family to risk. Therefore, the establishment of a scientific family property earthquake insurance system has become particularly important.Based on the actual dangers of earthquake risk, this paper analyzes the major earthquake risk coping mechanisms, concluded that the government-led earthquake insurance mechanism is more fair and efficient decentralized mechanism. The selected perspective in this article is the family property damage in the earthquake risk. Historical data is used to prove the severity of seismic risk to family property; while an effective family property seismic risk transfer mechanism is insufficient. Via theoretical analysis, drawing on the experience of the family property earthquake insurance system in developed countries, this paper tries to explore the family property earthquake insurance system in line with Chinese national conditions. Chapter0. Literature Review. To sort out Insurability of theory、Affordability theory、Dispersibility Theory and Earthquake insurance system literatures with a brief introduction to the research background significance, research content and methodsChapter1,"Earthquake Risk and family property damage." This chapter presents in this article research body-earthquake risk and the family property. According to the international and domestic calendar year earthquake risk of loss of data, analysis the seismic risk of destructive to the family property. Dispersion mechanism of the family property seismic risk, including risk retention, government relief, social donations and insurance mechanisms.Chapter2,"The theoretical foundation of the family property earthquake insurance mechanism". Analysis Insurability of theory、Affordability theory and Dispersibility Theory of the family property earthquake risk.Chapter3,"The international experience of family property earthquake insurance mechanism". This chapter describes in detail the four countries and regions of the family property earthquake insurance system, including New Zealand, the United States, Japan and Taiwan.Chapter4,"The idea of building the family property seismic mechanism’" This chapter first analyzes the necessity and feasibility of China’s family property earthquake insurance system to establish, and then learn from international experience in Chapter3, proposed the idea to build a family property earthquake insurance system in China.The contributions of this paper are the following:(1)use the wealth of historical data detailed to analysis of the family property damage caused by the earthquake;(2) from three theoretical dimension—insurability, affordability and dispersible—analysis seismic risk;(3) Select the international typical of countries and regions in the latest family property earthquake insurance system embodiment, from earthquake insurance mechanism and product design features two comprehensive comparative analysis, to build our family property earthquake insurance system to provide experience.(4) Analysis of earthquake insurance on the family property in China, and put forward development strategies.