Articles | Volume 21, issue 1
https://doi.org/10.5194/nhess-21-99-2021
https://doi.org/10.5194/nhess-21-99-2021
Research article
 | 
14 Jan 2021
Research article |  | 14 Jan 2021

Design of parametric risk transfer solutions for volcanic eruptions: an application to Japanese volcanoes

Delioma Oramas-Dorta, Giulio Tirabassi, Guillermo Franco, and Christina Magill

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AR: Author's response | RR: Referee report | ED: Editor decision
ED: Publish subject to minor revisions (review by editor) (09 Nov 2020) by Philip Ward
AR by Delioma Oramas-Dorta on behalf of the Authors (12 Nov 2020)  Author's response   Manuscript 
ED: Publish as is (13 Nov 2020) by Philip Ward
AR by Delioma Oramas-Dorta on behalf of the Authors (21 Nov 2020)  Author's response   Manuscript 
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Short summary
Large volcanic eruptions are rare events; however, they may cause significant economic losses. This work explores a specific type of insurance (parametric insurance) applied to such events. Unlike traditional insurance where payouts occur after often lengthy loss assessments, this type of insurance makes automatic and prompt payments on the basis of the eruption attaining threshold values for objective and easily measurable characteristics (height and direction of the eruption column).
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