Ertapenem Injection Market Insights and Feasibility Analysis
This report provides in-depth insights into the global market of Ertapenem Injection, including product overview, manufacturer details, market trends, manufacturing processes, price analysis, and customer consumption insights. The report explores the techno-commercial feasibility of Ertapenem Injection, covering key aspects such as manufacturing volume, pricing trends, and return on investment analysis. It also delves into continent-wise and country-wise manufacturers, applications, and potential future predictions. The comprehensive analysis aims to provide valuable information for stakeholders in the pharmaceutical industry.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
INSURANCE AGAINST EARTHQUAKE RISKS INSURANCE AGAINST EARTHQUAKE RISKS Klime Poposki University St. Kliment Ohridski Macedonia 6th Annual International Conference HOW LOW CAN WE GO? Sustainable Insurance in an Uncertain World June 14, 2021, Ljubljana
AGENDA: AGENDA: The impacts of an earthquake and economic losses CEE risks landscape Protection gap Dealing with underinsurance
The impacts of an earthquake and economic losses The impacts of an earthquake and economic losses short-term (immediate) impacts Primary long-term impacts Secondary social impacts (the impact on people) economic impacts (the impact on the wealth of an area) environmental impacts (the impact on the landscape)
The impacts of an earthquake and economic losses The impacts of an earthquake and economic losses Highlights Highlights occurred in over 154 nations on average of USD 34.5 billion in damages annually 6 of the 10 largest natural catastrophe events since 1980 in terms of overall losses 210 US$ bn, Fukushima nuclear disaster of 2011 in Japan was triggered by a tsunami following an earthquake - the costliest natural catastrophe of all time earthquakes caused over 2x more in economic losses than the average climate-related disaster tail dependent" due to their potential to trigger secondary perils more than 90% of all earthquakes occur in regions where large tectonic plates meet
Global Protection Gap Global Protection Gap - - nat nat cat events cat events - - Economic Losses (2020 USD bn) Insured Losses (2020 USD bn) Insured Losses (2020 USD Economic reasons for not fully insuring transaction costs affordability risk based premiums limitations in the supply of insurance Risk perceptions people under-estimate the risk of low-probability events Global protection gap USD 143 bn USD 113 bn USD 87 bn Insurance perceptions financial literacy and consumer education 2019 2020 10-year average 63% Financial development Government role Last resort intervention 31% 24% 20% 19% 17% Institutional framework and market structure property rights competition and market concentration Flooding Drought EQ Wildfire Tropilcal Cyclon Severe weather
CEE risks CEE risks landscape landscape The CEE risk landscape is very diverse Main risks: Earthquake Floods Windstorms Draught To a lesser extent: Landslides, hail, winter storms, wildfires etc.
World Risk Index 2020 for CEE region World Risk Index 2020 for CEE region from extreme natural events extreme natural events including earthquakes from including earthquakes World Risk Index 2012 - 2020 average 8.46 9 200 180 8 7.256.93 160 7 172 168 5.86 5.81 5.73 5.72 5.72 140 160 158 6 5.255.07 5.03 131 150 149 133 148 147 130 144 4.8 141 120 138 137 5 4.17 4.13 4.04 100 119 116 3.58 3.55 3.41 3.373.06 3.04 115 113 4 106 106 105 104 3 2.992.75 2.67 80 99 3 2.262.03 82 60 80 2 40 60 1 20 0 0 WRI Rank Source: www.WorldRiskReport.org SEE is significantly vulnerable and exposed to natural disasters. over EUR 120 billions in last 30 years 25% of all expected losses are likely to return every 20 years on average In the case of major earthquake with a 250 years mean return period the loss of Macedonian economy is estimated 13 15 % from the GDP Source: AIR World-wide risk model estimation
Review Review of the risks landscape of the risks landscape Flood risk is in particular important in the central-northern part of the region SL,AL, PL, HU AT, CZ, SK, PL, HU AT, RO, MK 2010 2013 2016 2012 RO 2014 BiH, HR, SRB,RO Earthquake risk is more relevant in the Adriatic area, Romania and the Southern regions (Turkey, Greece etc.) 2019 2020 AL HR
Property insurance Property insurance regional regional reviews 2020 2020 reviews GWP EUR 5.15 billion; Claims paid EUR 2.17 billion; Place of property insurance in the market portfolio Top 5 property insurance markets in the CEE 1,647 35% 1,600 33% 30% 29% Other, 24.32% 1,400 Poland, 31.97% 24% 25% 25% 1,200 1,056 23% 22% 1,000 20% 20% 20% 18% 18% 17% 800 15% 16% 15% 602 13% 600 Romania, 5.68% 11% 10% 10% 302 293 286 206 177 159 130 111 95 31 30 13 13 400 Slovak Republic, 5.86% 5% 200 - 0% Czech Republic, 20.49% PL CZ HU SK RO SI HR SRB BG % of property ins. in non-life GWP LT EE LV BiH MK AL MN Hungary, 11.68% Property GWP (EUR m) Source: XPRIMM Insurance coverage (% of homes insured) Poland Housing & commercial buildings ~ 60% Residential buildings in agro holdings ~90% Hungary, Czech Rep., Slovenia, Slovakia > 50% Romania ~20% Croatia, Bulgaria <15% Western Balkans <10%
INSURANCE COVERAGE FOR EARTHQUAKE RISK INSURANCE COVERAGE FOR EARTHQUAKE RISK - - PPP insurance PPP insurance schemes schemes - - Japan Earthquake Reinsurance Company: aggregate limit of the indemnity insurance is JPY 6.2 trillion coverage up to about 30-50% of the total insured value maximum insured amount is limited to JPY 50 million for buildings and JPY 10 million for movables discount mechanism to encourage seismic risk mitigation California Earthquake Authority: payable limit is about US$ 100 million premium rates range from 0.036- 0.90% relatively high deductible of 15% Iceland Catastrophe Insurance: compulsory, incidental to fire insurance deductible is 5% for each loss premium rate for properties and content is 0.025%, while that for lifelines is 0.02% liable up to 1% of the total insured capital New Zealand Earthquake Commission: compulsory, incidental to fire insurance premium rate is 0.05% insured amount is limited to NZ$ 100,000 for buildings and NZ$ 20,000 for content deductible is set to NZ$ 200 or 1% of the loss for residential properties Taiwan Residential Earthquake Insurance Fund: compulsory, incidental to fire insurance premium rate is 0.122% upper limit of the repayment per household is TW$ 1.2 million for residential properties and TW$ 180,000 for contingent expenses
INSURANCE COVERAGE FOR EARTHQUAKE RISK INSURANCE COVERAGE FOR EARTHQUAKE RISK - - PPP insurance PPP insurance schemes schemes in SEE region in SEE region- - Romanian Natural Disaster Insurance Pool PAID : Residential and commercial Earthquake, flood, landslide Building: (1) EUR 20 000 for type A (2) EUR 10 000 for type B Stand-alone policy (mandatory purchase) No specific deductible although a limit is imposed on the amount of coverage available Turkish Catastrophe Insurance Pool: Residential Main peril: Earthquake Secondary perils: Fire, explosion, tsunami, landslide Building: maximum TRY 170 000 Stand-alone policy (mandatory purchase for dwellings within municipal boundaries) Deductible is 2% of the sum insured for each loss and a coverage limit is imposed Reinsurance company Europa Reinsurance Facility Ltd. (Europa RE) formed in state ownership of Macedonia, Serbia and Albania 2014 country-specific flood and earthquake cat models developed by AIR; 2014 Earthquake and Flood risk based indemnity products and Agriculture parametric based for AYII 2016 - website launched - CATMonitor as part of its commitment to provide education and raise disaster risk awareness (https://catmonitor.com); 1. 2. Earthquake micro scheme Sovereign Coverage for Flood sovereign CAT insurance that would protect the government budget against losses caused by flood; 3. Sub-sovereign coverage (municipal coverage) model for a risk transfer mechanism at the municipal level, based on which the beneficiary is the municipality;
DEALING WITH UNDERINSURANCE DEALING WITH UNDERINSURANCE Mitigation, building standards and zoning Measures to reduce uncertainty about exposure Earthquake reserves and solvency requirements Reinsurance and capital markets risk transfer Enhancing awareness of earthquake risk Mandatory insurance programs Premium subsidies Government-backed insurance
Thank you Klime Poposki Email: klime.poposki@uklo.edu.mk www.uklo.edu.mk
