[20080130]RS22747_加利福尼亚野火：灾害保险的作用.pdf

Order Code RS22747Updated January 30, 2008California Wildfires: The Role of Disaster InsuranceRawle O. KingAnalyst in Financial Economics and Risk AssessmentGovernment and Finance DivisionSummaryThe tragic consequences of the wildfires that struck southern California in lateOctober 2007, have given renewed attention to the partnership between private providersof disaster insurance and the federal government. In broad terms, the disruption toeconomic systems caused by natural disasters, such as wildfires, windstorms,earthquakes, and floods, have been handled by the insurance and reinsurance industriesand by the federal government (taxpayers). Consequently, large government outlays fordisaster assistance and higher premiums for disaster insurance and reinsurance havefollowed the devastation caused by natural and man-made disasters. While it is too earlyto determine the full impact of the 2007 California wildfires on state and nationalproperty insurance markets, early estimates of $1 billion in insured property lossessuggest this event will not exceed the most destructive fire in the states history the1991 Oakland fires that cost $2.5 billion in 2006 dollars. The scope of the losses i