China's Typhoon Risk Assessment And Typhoon Insurance Product Design Research

In China's coastal areas, almost every summer and fall will be more or less subject to typhoons, it is not only to life and property caused by the local huge losses, and the wide spread of the affected area is also alarming. As an important economic instruments and the transfer of risk manageme nt- insurance, definitely stop in disaster reduction and recovery of the economy has a strong vitality. But in our current study design typhoon insurance products are few.This paper starts with the typhoon real data, first of all, an overview of the typhoon risk, mainly describes the definition of the risk of the typhoon, the formation of the typhoon conditions, and further pointed out that China's urgent need to study the risk of typhoons and the great significance of the insurance. Then the literature review of the domestic and foreign research status of the typhoon risk and the typhoon insurance, compared the gap between domestic and foreign. Literature research shows that the study of typhoon risk and typhoon insurance in foreign countries is more perfect in theory, system construction and practice, but its applicability in China is limited. In contrast, the domestic typhoon risk and insurance research is obviously not enough, the lack of insurance products, which requires the government, scholars, insurance institutions must pay special attention to the study of typhoon risk and insurance, as soon as possible to develop a suitable for China's national conditions of catastrophe products.In this paper, combined with the characteristics of typhoon risk and related data, and learn from the domestic and foreign scholars of the outstanding typhoon risk assessment model, summed up the law and experience, and then establish a suitable model for China's typhoon risk assessment. The model constructed in this paper is based on the model of typhoon damage assessment of building component decomposition, that is, the relationship between the wind speed and the damage degree of buildings, and from this point of view to refine the disaster losses caused by the typhoon. According to common sense, typhoon wind speed more and more high buildings damage is bigger, opposite is smaller, so this paper is in the opposite direction, starting from the integrity of the buildings, analysis of typhoon wind speed and the whole architecture of the exact function. Because the building is a whole, in order to facilitate the analysis, this paper uses the components of the building to achieve the links between the various parts to solve the overall problem of the purpose. Finally, on the basis of this model, we explore the current situation of the domestic and foreign typhoon insurance products, investigate its characteristics, and then rely on the model to design suitable for China's national conditions of the typhoon insurance products.This paper studies suggest that the greater the typhoon wind speed is, the smaller the structural integrity of the building, the greater the degree of damage. The relationship between the integrity of the building property and the wind speed of typhoon inversely correlated. Therefore, in the design of the typhoon insurance products, according to the different wind speed for the design of the wind, the elements of the product should also focus on how to ensure that the insured in the typhoon damage, the property of their buildings can be the largest and the most equitable protection. According to this basic principle, the design of the typhoon insurance products is mainly composed of three parts: the insurance core product(insurance clause), tangible products(policy) and the most important additional products(risk assessment table). I hope my research can provide a useful reference for research and design on China's typhoon disaster assessment and typhoon insurance products.