Green Insurance Pricing Research

Green insurance is an innovative insurance produced by the integration of ecoenvironmental science and finance,which can realize the "win-win" of economic development and eco-environmental protection.Green insurance can transfer market forces to strengthen environmental regulation,enterprises to participate in the green insurance,the insurance company in the event of insurance accident in a timely manner to provide compensation for victims,lowers the risk of bankruptcy enterprise,and to reduce the government financial burden,at the same time the market mechanism of supervision function will force companies to voluntarily reduce the pollution of the ecological environment risk,guide enterprises to develop in the direction of low pollution,low loss,urged companies to adopt a new industry,new technology,to promote transformation and upgrading of enterprises.From this point of view,the implementation of green insurance can not only improve China's ecological environment,promote the construction of ecological civilization,but also promote the development of China's circular economy.However,problems such as slow development and insufficient supply and demand of green insurance in China are mainly caused by unreasonable pricing of green insurance.Based on this,this paper conducts a research on green insurance pricing from two aspects,namely,theoretical analysis and empirical research.The research contents are mainly as follows:Firstly,based on reviewing and sorting out existing studies on green insurance,the concept of green insurance is improved,the theoretical basis of green insurance is analyzed,and the necessary theoretical support is provided for subsequent studies on green insurance pricing.Secondly,a game model based on the tripartite behavior of green insurance was constructed,and the pricing of insurance company's products was determined as the starting point for the research.Thirdly,according to the difficulties in the pricing of green insurance,the non-life insurance actuarial pricing method based on classified risk and the b-s option pricing method are selected to study the pricing of green insurance.Fourthly,based on the actuarial pricing method of classified risks and b-s option pricing method,the chemical industry is selected as the research object and the water pollution liability insurance is taken as an example to determine the rate.Fifthly,the rate adjustment strategy based on loss frequency is developed by using the reward and punishment system,which provides a complete method for determining the rate of green insurance.The results show that although the system of non-life insurance actuarial pricing method is complete,it does not consider the market factors and the time value of capital.Although the b-s option pricing method is rigorous in logic and fully considers the impact of capital flow and investment factors on pricing,the model assumptions are too ideal.Therefore,the two methods can be applied to the pricing of green insurance at the same time,which can complement and compare with each other,so as to improve the accuracy and feasibility of pricing.The empirical study on the pricing of green insurance shows that as long as the data is sufficient and the method is reasonable,the rate of green insurance can be determined scientifically,and the technical barriers can be overcome.