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

Related authors

Examining the impact of lahars on buildings using numerical modelling
Stuart R. Mead, Christina Magill, Vincent Lemiale, Jean-Claude Thouret, and Mahesh Prakash
Nat. Hazards Earth Syst. Sci., 17, 703–719, https://doi.org/10.5194/nhess-17-703-2017,https://doi.org/10.5194/nhess-17-703-2017, 2017
Short summary

Related subject area

Risk Assessment, Mitigation and Adaptation Strategies, Socioeconomic and Management Aspects
Quantifying the potential benefits of risk-mitigation strategies on future flood losses in Kathmandu Valley, Nepal
Carlos Mesta, Gemma Cremen, and Carmine Galasso
Nat. Hazards Earth Syst. Sci., 23, 711–731, https://doi.org/10.5194/nhess-23-711-2023,https://doi.org/10.5194/nhess-23-711-2023, 2023
Short summary
Review article: Potential of nature-based solutions to mitigate hydro-meteorological risks in sub-Saharan Africa
Kirk B. Enu, Aude Zingraff-Hamed, Mohammad A. Rahman, Lindsay C. Stringer, and Stephan Pauleit
Nat. Hazards Earth Syst. Sci., 23, 481–505, https://doi.org/10.5194/nhess-23-481-2023,https://doi.org/10.5194/nhess-23-481-2023, 2023
Short summary
Invited perspectives: An insurer's perspective on the knowns and unknowns in natural hazard risk modelling
Madeleine-Sophie Déroche
Nat. Hazards Earth Syst. Sci., 23, 251–259, https://doi.org/10.5194/nhess-23-251-2023,https://doi.org/10.5194/nhess-23-251-2023, 2023
Short summary
Classifying marine faults for hazard assessment offshore Israel: a new approach based on fault size and vertical displacement
May Laor and Zohar Gvirtzman
Nat. Hazards Earth Syst. Sci., 23, 139–158, https://doi.org/10.5194/nhess-23-139-2023,https://doi.org/10.5194/nhess-23-139-2023, 2023
Short summary
Assessing agriculture's vulnerability to drought in European pre-Alpine regions
Ruth Stephan, Stefano Terzi, Mathilde Erfurt, Silvia Cocuccioni, Kerstin Stahl, and Marc Zebisch
Nat. Hazards Earth Syst. Sci., 23, 45–64, https://doi.org/10.5194/nhess-23-45-2023,https://doi.org/10.5194/nhess-23-45-2023, 2023
Short summary

Cited articles

Artemis: Sompo Japan to launch parametric volcanic risk insurance, available at: http://www.artemis.bm/news/sompo-japan-to-launch-parametric-volcanic-risk-insurance/ (last access: 12 March 2019), 2016. 
Blong, R., Tillyard, C., and Attard, G.: Insurance and a Volcanic Crisis – A Tale of One (Big) Eruption, Two Insurers, and Innumerable Insureds, in: Observing the Volcano World. Advances in Volcanology (An Official Book Series of the International Association of Volcanology and Chemistry of the Earth's Interior – IAVCEI, Barcelona, Spain), edited by: Fearnley, C. J., Bird, D. K., Haynes, K., McGuire, W. J., and Jolly, G., Springer, Cham, Switzerland, 585–599, https://doi.org/10.1007/11157_2016_42, 2017b. 
Blong, R. J., Grasso, P., Jenkins, S. F., Magill, C. R., Wilson, T. M., McMullan, K. and Kandlbauer, J.: Estimating building vulnerability to volcanic ash fall for insurance and other purposes, J, Appl, Volcanol,, 6, 1–13, https://doi.org/10.1186/s13617-017-0054-9, 2017a. 
Bonadonna, C., Costa, A., Folch, A., and Koyaguchi, T.: Tephra dispersal and sedimentation, in: Encyclopedia of volcanoes, 2nd Edn., edited by: Sigurdsson, H., Houghton, B., McNutt, S., Rymer, H., and Stix, J., Elsevier, 587–597, https://doi.org/10.1016/B978-0-12-385938-9.00033-X, 2015. 
Brown, S. K., Loughlin, S.C., Sparks, R. S. J., Vye-Brown, C., Barclay, J., Calder, E., Cottrell, E., Jolly, G., Komorowski, J.-C., Mandeville, C., Newhall, C. G., Palma, J. L., Potter, S., and Valentine, G.: Global volcanic hazard and risk, in: Global Volcanic Hazards and Risk, edited by: Loughlin, S. C., Sparks, R. S. J., Brown, S. K., Jenkins, S., and Vye-Brown, C., Cambridge University Press, Cambridge, UK, 81–172, https://doi.org/10.1017/CBO9781316276273.004, 2015. 
Download
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).
Altmetrics
Final-revised paper
Preprint