Compensating Catastrophe Victims

This book shows that amelioration of the current compensation solutions for disaster victims is indeed a possibility. In a heated yet often poorly informed debate, it offers clarity and insights regarding the financial compensation for victims of catastrophes which, in addition to raising academic interest, are certain to help build a framework for future policymakers and lawmakers faced with shaping compensation programmes for catastrophe victims.

Recently, mankind is not only suffering from all kind of natural catastrophes (earthquakes, flooding, storms or volcanoes), but increasingly also from so-called man-made disasters, including technological disasters such as explosions, but obviously also terrorism. In recent years many European legal systems have tried to come up with a specific protection for victims of catastrophes. Some countries have created a specific fund solution; others follow a generous ad hoc approach whereby large amounts of compensation are made available on an ex post basis. This book shall pay attention to all of.

Mankind suffers not only from natural catastrophes, but increasingly from so-called man-made disasters, including technological explosions, and obviously also terrorism. This book addresses of these seemingly quite different solutions. Various possible remedies for victims are critically discussed; attention is also paid to the economic analysis of law.

This report aims to help designers of victim compensation programs make decisions that balance fairness to victims, speed of compensation, and size of transaction costs. Key fairness considerations include the needs and deservingness of victims.

Compensation funds are redress structures that compensate victims of accidents and other misfortune where tort, insurance and social security frameworks are unavailable or inapplicable. Their undefined nature raises important legal questions that have not yet been fully answered. This book contrasts and analyses both well-known and lesser known compensation funds in Belgium, France, Germany, the Netherlands, New Zealand, Spain, and the United Kingdom.

China is the largest greenhouse gas emitter in the world and also suffers from devastating climate catastrophes. Increasingly, policymakers in China have come to realize that government alone cannot adequately prevent or defray climate-related disaster risks. This book contends that a better way to manage catastrophe risk in China is through private insurance rather than directly through the Chinese government. In addition, private insurance could function as a substitute for, or complement to, government regulation of catastrophe risks by causing policyholders to take greater precautions to reduce climate change risks.

We in the United States have almost come to accept natural disasters as part of our nation's social fabric. News of property damage, economic and social disruption, and injuries follow earthquakes, fires, floods and hurricanes. Surprisingly, however, the total losses that follow these natural disasters are not consistently calculated. We have no formal system in either the public or private sector for compiling this information. The National Academies recommends what types of data should be assembled and tracked.