Disaster Law Commons^™

Insurance Against Catastrophe: Government Simulation Of Insurance Markets For Catastrophic Events, Véronique Bruggeman, Michael Faure, Tobias Heldt

Washington Journal of Environmental Law & Policy

As a result of climate change, technological development, and other variables, natural and technological catastrophes have increased dramatically. Moreover, due to infrastructural issues, such as building in floodplains, damages resulting from catastrophes have increased as well. The massive earthquake and tsunami that occurred in Japan on March 11, 2011 are still fresh in people's memories, providing sobering illustrations of the extensive reach of such catastrophes. After a catastrophe, which is defined for the purposes of this Article as an accident with large losses in either the number of victims or the amount of property damage, governments often intervene in the …