Marković, mr Mirjana
Direktor Funkcije za
aktuarstvo, statistiku
i upravljanje rizicima
solventnosti, Kompanija
„Dunav osiguranje“ a.d.
OVERVIEW OF THE ACTIVITIES OF INSURANCE COMPANIES IN NORTH AMERICA UNDER THE IMPACT OF CATASTROPHE LOSSES CAUSED BY CLIMATE CHANGE
Climate change has increased the severity and frequency of natural hazards, thus leading to catastrophe losses. There is a growing need to reduce adverse eff ects on international economies, property and health of people, which is
why diff erent types of insurance protection are created to respond to climate
change and its consequences.
The state aid in North America, combined with optional insurance provided by private insurance companies, is but one of the responses to these
challenges. This model, however, has displayed certain weaknesses such as
moral hazard, adverse selection and the lack of solidarity. Fortunately, this can
be overcome by combining compulsory and private insurance, state aid and
earmarked reserve funds into the creation of an insurance model - a comprehensive coverage of natural hazards - as the only model that meets the current
needs for protection.
Key words: climate change, natural hazards, catastrophe losses, insurance, reinsurance, activities of insurers.
DRAWING A DISTINCTION BETWEEN INSUREDS BASED ON GENDER: DISCRIMINATION OR NECESSITY
In developed Western countries, the fundamental gender inequality, despite proclamations to the contrary, has not been
„evened out“ yet, and it is reflected in an unequal approach to
education and employment (in particular when taking into
account highly reputed universities, highly paid jobs in business and positions entailing power and privileges in politics).
Countries can only alleviate the consequences of their insufficient efficacy by shifting the burden to the private business,
particularly to branches that are widely perceived as financially capable of withstanding even such blows.
The fact that the Serbian insurance market, being undeveloped, is not hugely impacted by these changes brings
small comfort. Namely, only a negligible portion of the insurance products portfolio offers different rates based on
the insured`s gender