Forest property insurance: an application to mediterranean woodlands
Autor(a) principal: | |
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Data de Publicação: | 2011 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10174/8475 |
Resumo: | Fire is the biggest forest enemy in many countries, especially in those that have dry and hot climates. Fire destroys biomass and makes forest production a very risky business. Forest insurance could decrease fire risk and would contribute to make forest activities more profitable. Nowadays, in many countries, it is not easy to find companies that want to insure forests stands. The most important reasons to explain this fact are the followings. First, in many countries, forest insurance is not mandatory; so many farmers don’t make it. This increases the risk premium that insurance companies ask for those that were willing to make the insurance contract. Second, insurance companies need to have models based on desegregated and reliable data that allow them estimating the probability of fire occurrences. Finally, it is very difficult for insurer to estimate the real value of the stands (forests) because their values vary from species to species and for the same species with the age and market prices. So, it is difficult for insurer to practice fair and reasonable insurance premiums. The main objective of this paper is to present simple models that help to estimate “fair” insurance risk premiums, contributing in this way to make forest business more appealing and sustainable. |
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Forest property insurance: an application to mediterranean woodlandsforest fireinsurancerisk premiumforest property insuranceFire is the biggest forest enemy in many countries, especially in those that have dry and hot climates. Fire destroys biomass and makes forest production a very risky business. Forest insurance could decrease fire risk and would contribute to make forest activities more profitable. Nowadays, in many countries, it is not easy to find companies that want to insure forests stands. The most important reasons to explain this fact are the followings. First, in many countries, forest insurance is not mandatory; so many farmers don’t make it. This increases the risk premium that insurance companies ask for those that were willing to make the insurance contract. Second, insurance companies need to have models based on desegregated and reliable data that allow them estimating the probability of fire occurrences. Finally, it is very difficult for insurer to estimate the real value of the stands (forests) because their values vary from species to species and for the same species with the age and market prices. So, it is difficult for insurer to practice fair and reasonable insurance premiums. The main objective of this paper is to present simple models that help to estimate “fair” insurance risk premiums, contributing in this way to make forest business more appealing and sustainable.2013-04-03T11:30:54Z2013-04-032011-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/8475http://hdl.handle.net/10174/8475engPinheiro, A. e Ribeiro, N. (2011),Forest property insurance: an application to mediterranean woodlands, Documento de Trabalho nº 2011/01, Universidade de Évora, Departamento de Economia.14acap@uevora.ptnmcar@uevora.ptG22, Q23, Q541_2011Universidade de Évora, Departamento de EconomiaUniversidade de Évora, Departamento de FitotecniaPinheiro, António C.Ribeiro, Nunoinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-08-08T03:59:03ZPortal AgregadorONG |
dc.title.none.fl_str_mv |
Forest property insurance: an application to mediterranean woodlands |
title |
Forest property insurance: an application to mediterranean woodlands |
spellingShingle |
Forest property insurance: an application to mediterranean woodlands Pinheiro, António C. forest fire insurance risk premium forest property insurance |
title_short |
Forest property insurance: an application to mediterranean woodlands |
title_full |
Forest property insurance: an application to mediterranean woodlands |
title_fullStr |
Forest property insurance: an application to mediterranean woodlands |
title_full_unstemmed |
Forest property insurance: an application to mediterranean woodlands |
title_sort |
Forest property insurance: an application to mediterranean woodlands |
author |
Pinheiro, António C. |
author_facet |
Pinheiro, António C. Ribeiro, Nuno |
author_role |
author |
author2 |
Ribeiro, Nuno |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Pinheiro, António C. Ribeiro, Nuno |
dc.subject.por.fl_str_mv |
forest fire insurance risk premium forest property insurance |
topic |
forest fire insurance risk premium forest property insurance |
description |
Fire is the biggest forest enemy in many countries, especially in those that have dry and hot climates. Fire destroys biomass and makes forest production a very risky business. Forest insurance could decrease fire risk and would contribute to make forest activities more profitable. Nowadays, in many countries, it is not easy to find companies that want to insure forests stands. The most important reasons to explain this fact are the followings. First, in many countries, forest insurance is not mandatory; so many farmers don’t make it. This increases the risk premium that insurance companies ask for those that were willing to make the insurance contract. Second, insurance companies need to have models based on desegregated and reliable data that allow them estimating the probability of fire occurrences. Finally, it is very difficult for insurer to estimate the real value of the stands (forests) because their values vary from species to species and for the same species with the age and market prices. So, it is difficult for insurer to practice fair and reasonable insurance premiums. The main objective of this paper is to present simple models that help to estimate “fair” insurance risk premiums, contributing in this way to make forest business more appealing and sustainable. |
publishDate |
2011 |
dc.date.none.fl_str_mv |
2011-01-01T00:00:00Z 2013-04-03T11:30:54Z 2013-04-03 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10174/8475 http://hdl.handle.net/10174/8475 |
url |
http://hdl.handle.net/10174/8475 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Pinheiro, A. e Ribeiro, N. (2011),Forest property insurance: an application to mediterranean woodlands, Documento de Trabalho nº 2011/01, Universidade de Évora, Departamento de Economia. 14 acap@uevora.pt nmcar@uevora.pt G22, Q23, Q54 1_2011 Universidade de Évora, Departamento de Economia Universidade de Évora, Departamento de Fitotecnia |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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