| Natural disasters such as earthquakes, floods, droughts and typhoons occur frequently in China for its climate and topography are quite complicated. These catastrophes have caused huge loss of life and property, thus China has been recognized as one of the countries which suffer most losses of natural disasters. During2008-2012, the average annual loss caused by natural disasters in our country is up to538billion yuan, accounting for the proportion of GDP about1-2percent. At the same time, the average population affected by natural disasters per year has reached420million, accounting for31%of China’s total population. According to internationally accepted definition, catastrophe is the accident which the economic loss of a single disaster exceed0.01%of GDP. If so, it is like catastrophe happening100times every year. And with the dramatic changes in climate and continued economic growth, the frequency and scale of natural catastrophe loss in our country will further increase.In the face of such a severe catastrophe situation, China is still taking the government fiscal relief as the main way, supplemented by social donations. Predictably, existing disaster relief way will enable the government fiscal relief to overburden with catastrophe losses continuing to climb. The insurance industry should play an important role in the compensation of catastrophe losses, for having the professional advantage of risk management. In fact, from around the world, many countries and regions have established their catastrophe insurance systems. The world’s average catastrophe insurance claim is about40%of total loss, and even more than60%in developed countries. While in China, due to limited fiscal funds and undeveloped reinsurance market as well as capital market, insurance companies cannot spread and transfer catastrophe risk in a larger scope, which lead to the blank supply of catastrophe insurance.In recent years, all sectors of society are appealing to establish our catastrophe insurance system. Since2008, the government has made some argument, meanwhile academia and industry have carried out a large number of research. In2014, once again catastrophe insurance becomes the focus of government work report. It is clear that to explore the path of implementing the catastrophe insurance system has become a top priority of current insurance industry.Given the reality of backward reinsurance market and capital market, seeking other ways to spread catastrophe risk is the basic solution to solve the problem of catastrophe insurance supply. I got inspired from the successful experience of issuing disaster relief lotteries in our country for the past few years. Issuing lotteries may spread catastrophe risk in a greater range, which is likely to be an effective way of promoting the establishment of catastrophe insurance system. Based on the above, the thesis proposed the idea of issuing catastrophe lotteries, and make research on issues like necessity, feasibility, mode selection of issuing catastrophe lotteries in China.The thesis contains eight chapters, and the main content is arranged as follows:The first chapter is an introduction. It introduces the background and significance, and summarizes the contents and methods of this thesis. After reviewing the relevant literatures, it also puts forward the innovations and deficiencies of the study.The second chapter introduces the main catastrophe risks and compensation ways in China. To begin with, this part lists four typical catastrophe risks and their basic characteristics, then expounds three main ways of compensating disaster loss as well as their effectiveness.The third chapter begins with the definition of catastrophe lottery and its properties, then elaborated on the special relationship between catastrophe lottery and catastrophe insurance, so as to lay a solid foundation for later research.The fourth chapter analyzes the necessity and significance of issuing catastrophe lottery in China. Firstly this part explains the necessity from the reality of catastrophe compensation, the advantage of catastrophe lottery, the use of existing lottery public welfare funds. And then it probes into the significance from both the theory and the reality.The fifth chapter discusses the feasibility of issuing catastrophe lottery. It carries on a more comprehensive feasibility analysis of issuing catastrophe lottery in our country from the aspects of practical basis, market demand, technical support, policy and legal protection. This part is one of the key sections of the thesis, playing an important role in connecting context.Chapter six mainly focuses on the design of catastrophe lotteries. This chapter gives us detailed design of the two kinds of catastrophe lotteries mainly from lottery type, lottery price, allocation of funds and game rule.Chapter seven describes the international experience and enlightenment. In this part, the author first compares the difference of issuing model, market regulation and allocation of lottery funds among America, France and Britain. Moreover, on the basis of international advanced experience, it sums up the enlightenment for issuing our catastrophe lottery.Chapter eight studies the specific issuing management mode of catastrophe lottery. This section respectively discusses the two kinds of catastrophe lotteries from issuing purpose, issuer, issuing mode, market regulation, use of public welfare funds and other relevant aspects. Finally based on the present difficulties, the author proposes corresponding countermeasures. |
PDF Full Text Request