Discussion On Several Problems Of Catastrophe Insurance In The Construction Of The Legal In China

In the nearly half century development of prevent disaster prevention and control system, catastrophe insurance has become one of the most important institutional arrangements in catastrophe risk management. Catastrophe risk is different from general insurance risk, the characters of catastrophe such as the low frequency, high loss, disaster occurred at the same time but the affected area is widely makes the catastrophe insurance at the beginning should face the hard problem of catastrophe insurance market failure or government failure. This paper from the angle of perfecting legal system, to carding and construction the legal problems of catastrophe insurance, to do one’s little bit to help for the construction of catastrophe insurance legal system in our country.In the first chapter "Introduction", it introduces the connotation of the catastrophe and social demand for building the catastrophe insurance legal system, and reviewed the catastrophe insurance in the literature at home and abroad. In the definition of catastrophe insurance, different countries have different ways to define. Some countries define it accord to the loss amount, some countries are defined according to the natural factors and human factors. Combining with the reality of the situation in our country, this paper deems that catastrophe insurance should only point to the catastrophe risks that caused by natural disasters. Catastrophe insurance refers to risk guarantee system that caused by sudden and has a great harm of natural disasters caused by the property loss and casualty.In the second chapter "Operational mode of catastrophe insurance", it introduces the international experience of catastrophe insurance operational mode, compares the different catastrophe insurance business model, and summarizes the consideration factors about the mode selection of the operation of catastrophe insurance. The main international experience of catastrophe insurance business model include government leading supply of catastrophe insurance, the market leading supply of catastrophe insurance, and public and private collaboration management of catastrophe insurance. The advantage of government supplies the catastrophe insurance is cost advantage, fairness, effectiveness and standardization; the insufficient of which include it lead to the large financial pressure if supply is led by government, security level is also insufficient, secondly, the government does not have the professional advantages of commercial insurance company. Thirdly, the capital which is dominated by the government for the construction of catastrophe insurance, generally transferred to each region by means of fiscal transfer payment, it would cause the regional inequality of catastrophe insurance due to the transfer power between regions is unbalance. Compared with the government, the market provides catastrophe insurance has the following three advantages:strong flexibility, high professionalism and contribute to the market main bodies rational decision-making; Disadvantages are:"high risk and low profit" of catastrophe insurance business it’s not attractive; the commercial insurance company is not willing to do business of catastrophe insurance. The catastrophe insurance cooperation mode has obvious advantages:on the one hand, it can effective mobilize premium rate making and handling claims quickly, on the other hand, it can utilize the advantage of government funds and policy, and when it is necessary, it can rely on the power of the law and policy promoted full implementation of catastrophe insurance which enables the catastrophe insurance to seek balance when it can ensure market efficiency and social equity.Catastrophe insurance cooperation pattern has the disadvantage:government and insurance company have cooperation consensus, they are also conflicted by interest, and the relationship between them is in the middle of cooperation and independent, therefore, the cooperation of the two needs large amount of "communication cost". The catastrophe insurance operation mode of a country is determined by the degree of dispersibility of the catastrophe risk, it is a problem which has the obvious localization feature and regional feature, for the operational mode of catastrophe insurance, it only has most appropriate mode and does not exist an optimal mode.In the third chapter "The designing of catastrophe insurance product", it introduces the designing of the insurance kinds of catastrophe insurance, the determination of insurance coverage, the premium and the identification of insurance accident. This paper argues that the designing of catastrophe insurance should not adopt the designing mode of general commercial insurance kinds, it should carry out the classification the design in accordance with the types of natural disasters such as earthquake risk, flood risks, typhoon risk, drought risk and so on. Secondly is the guarantee range of catastrophe insurance product which mainly discussed the issues of catastrophe insurance product insurance mark and insurance liability. The third is insurance rate setting of catastrophe insurance products, this paper argues that it should comprehensively considers the disaster areas, the disaster frequency, hazardous and the change of the market to set a variable correlation mechanism and implement account rates. The fourth is the definition catastrophe insurance accident. This paper deems for catastrophe insurance accident defined should adopt the model of "accident cause and accident result".The fourth chapter is "Sales of catastrophe insurance and claims". For catastrophe insurance sales, the main international sales ways are mandatory, completely voluntary and half mandatory three sales ways. Combined with the current specific situation and the related international experience, this paper deems in our country it should adopt weaker mandatory or half mandatory sales ways, when it develops to a certain level, it can gradually build complete resources sales way. For the catastrophe insurance claims, this paper argues in order to shows the nonprofit and for-profit, in the claims it should take the way which cares both of efficiency and fairness, to seek a reasonable balance between them.