Search

As airport operators, the provision of chilled water and back-up power generation is a necessary element of our utility infrastructure. This paper outlines the benefits and pitfalls related to outsourcing this increasingly critical infrastructure to the local power company and describes the case of Orlando International Airport (MCO), which formed a public-public partnership with Orlando Utilities Commission (OUC). Over the course of a multiyear negotiation, we engaged OUC to take on operating the chilled water plant and the back-up generation facility for the airport's new Terminal C. Throughout the negotiation, we addressed many challenges. The aim of this paper is to familiarise the airport operator with the transaction and some of the key issues we faced and resolved at MCO. [ABSTRACT FROM AUTHOR]

Flood risk has dramatically increased over the decades and is complicated by climate change. Nevertheless, the residual risk of flooding remains scarcely addressed in practice and theory. This paper is to document the lessons learned from managing residual risk in Taiwan. Through a semi-structured interview process, fourteen stakeholders from the flood management in academia, government, and local communities shared their perspectives on residual risk covering various aspects, including flood risk mapping, social representations, and some management strategies. Land use regulation and community-based disaster prevention were highlighted as preparedness measures and recognized for their effectiveness to mitigate flood residual risk. However, there is still an insufficient consideration of flood maps as public communication tools rather than mere decision-informing documents. Besides, all the interviewed stakeholders agreed that marginal flood risk awareness limits the recognition and discussion of residual risk as a problem of its own. Misconceptions and the lack of communication between stakeholders were identified as the main barriers too. Interviewees pointed out that citizens are unaware of risks mainly either due to their inexperience or over-trust in the safety of flood protection structures. Overall, this work may inform residual flood risk management for Taiwan and elsewhere enduring similar extreme floods.

In deciding whether an infrastructure project should be delivered using traditional procurement or a public-private partnership (PPP), the public sector estimates the project's value for money (VFM), which serves as the principal justification for adopting PPP. It is well known that VFM arises primarily from risk transfer, that is, the risk of (for example) potential cost overruns is transferred from the public sector to the private sector under PPP, thereby creating cost savings to the public sector. Using a unique source of PPP data, Infrastructure Ontario, Canada, this paper investigates an issue not examined systematically and quantitatively in the literature: how the contribution to VFM arising from risk transfer varies from project type to project type, and why. [ABSTRACT FROM AUTHOR]

This study was conducted to assess fire risk transfer and its impact on the Nigerian economy over the period 1999 to 2019. It was borne out of the incessant fire outbreaks in the country in recent times which has led to an increase in fire risk premiums in the Nigerian insurance industry. The specific objectives were to investigate the trend of fire risk premium and real gross domestic product (RGDP) and assess the impact of fire risk premium on RGDP in Nigeria. The ex-post facto research design was adopted and the population consisted of all insurance companies covering fire risk as of 2019. Data were sourced from Nigeria Insurance Digest, the Central Bank of Nigeria statistical bulletin and the National Bureau of Statistics covering the selected years. The dependent variable for the study was RGDP while fire risk premium, exchange rate and money supply were independent variables. The trend analysis revealed that fire risk premiums increased at a faster rate than RGDP. while the regression analysis indicated a positive significant relationship between fire risk premiums and RGDP, and negative relationships between exchange rate and RGDP, as well as between money supply and RGDP. It was recommended that fire risk transfer should be encouraged for individuals and organizations to enhance its continued contribution to economic growth. [ABSTRACT FROM AUTHOR]

Abstract The application of risk management strategies is a common approach in emergency response scenarios. However, scant knowledge exists regarding its utilization in the specific context of an outbreak, both theoretically and practically. This study delves into the realm of risk management during the COVID-19 pandemic, focusing on four key measurements: risk avoidance (RA), risk reduction (RD), risk transfer (RT), and risk retention (RR). Using 800 valid responses collected from 31 provinces across China between August 1 and September 30, 2020, this study investigates spatial disparities in individuals’ intentions towards risk management. To achieve this, an extended version of the Theory of Planned Behavior (E-TPB) is applied. The Structural Equation Model’s path analyses revealed several findings: (1) discernible spatial disparities in RR, RA, and RD intentions between large and small cities; (2) RD and RR intentions were significantly associated with attitude, subjective norm, perceived behavioral control, and risk perception; (3) RA and RT intentions were significantly associated with attitude and risk perception; (4) risk perception exihibiting both direct and indirect effects on RA and RR intentions. This study contributs to the urban studies literature by extending the theoretical framework of risk management in the context of COVID-19. It enhances the measurement tools employed in the TPB model and scrutinizes spatial disparities in the adoption of preventative measures against COVID-19. The findings underscore the importance for local policymakers to consider geographical differences when formulating effective strategies for COVID-19 prevention.

The purpose of the article/hypothesis. The main aim of this article is to assess the direction and scale of risk transfer via systemically important banks in the euro area. This paper also critically analyses and proposes practical applications of supervisory and complex measures of SIBs identification. Methodology. The impact of systemic risk transfer via O-SIBs on the home and host countries was examined using the supervisory measure of an individual bank’s contribution in the national systemic risk. Additionally, the SRISK model was used. Results of the research. The conducted research has shown that the nature of risk transfer is potentially unidirectional, i.e., from the ‘old EU’ countries to the other countries in the same group or to the ‘new EU’ states. Also, three other SIBs have been found to pose a greater threat to the national banking system than their parent entities do in their home countries. Moreover, it has been demonstrated that in three countries, the aggregate risk contribution of the local O-SIBs – being subsidiaries of O-SIBs from other Eurozone countries – exceeds 25%.

The application of risk management strategies is a common approach in emergency response scenarios. However, scant knowledge exists regarding its utilization in the specific context of an outbreak, both theoretically and practically. This study delves into the realm of risk management during the COVID-19 pandemic, focusing on four key measurements: risk avoidance (RA), risk reduction (RD), risk transfer (RT), and risk retention (RR). Using 800 valid responses collected from 31 provinces across China between August 1 and September 30, 2020, this study investigates spatial disparities in individuals' intentions towards risk management. To achieve this, an extended version of the Theory of Planned Behavior (E-TPB) is applied. The Structural Equation Model's path analyses revealed several findings: (1) discernible spatial disparities in RR, RA, and RD intentions between large and small cities; (2) RD and RR intentions were significantly associated with attitude, subjective norm, perceived behavioral control, and risk perception; (3) RA and RT intentions were significantly associated with attitude and risk perception; (4) risk perception exihibiting both direct and indirect effects on RA and RR intentions. This study contributs to the urban studies literature by extending the theoretical framework of risk management in the context of COVID-19. It enhances the measurement tools employed in the TPB model and scrutinizes spatial disparities in the adoption of preventative measures against COVID-19. The findings underscore the importance for local policymakers to consider geographical differences when formulating effective strategies for COVID-19 prevention. [ABSTRACT FROM AUTHOR]

This study extends current knowledge on competition and corporate defense by investigating how firms transfer risk in response to their firm-specific multimarket and structural competitive conditions. Drawing on the theory of multimarket competition, we propose an inverted U–shaped relationship between multimarket competition and risk transfer. We also propose that, for the sake of gaining a competitive edge, the extent to which a firm manages risk will tend to be opposite to that of its competitors. Last, we propose that egocentric industry concentration will moderate the relationship between multimarket competition and risk transfer besides its direct effect. Analysis of reinsurance usage in the US property and casualty insurance industry strongly supports our model and shows that firm-specific competitive conditions are salient to a firm's risk transfer level. [ABSTRACT FROM AUTHOR]

Existing studies on the environmental Kuznets curve (EKC) neglect the inverse effect of pollution transfer from environmental regulation interactions on pollution reduction from a risk analysis perspective. Based on the regional differentiated attitudes on the environmental regulation reached in risk communication by the risk awareness biases of multiple interest groups, this article clarifies the causality between risk communication and risk transfer based on multistakeholder engagement processes; furthermore, the article incorporates the simultaneous action of the technological innovation effect and pollution risk transfer effect to construct a spatial environmental hyperbolic model with a bidirectional correlation between pollution emissions and economic growth in different regions. To verify our model, we select the pollution from agricultural watersheds in China as a sample to examine the two inverse effects. The results demonstrate that (1) agricultural watershed pollution and economic growth show an inverted U‐shaped relation and a U‐shaped relation in the local region and adjacent regions, respectively; (2) the pollution reduction assessment of the classical EKC model can be largely attributed to pollution risk transfer behavior; and (3) the turning point of the U‐shaped curve appears earlier than that of the inverted U‐shaped curve in the spatial hyperbola model. The findings suggest that stakeholders should consider the risk awareness bias caused by the imbalance of regional economic development and the scenarios that provide a "haven" for pollution risk transfer. Moreover, our study expands the theoretical connotation of the classical EKC hypothesis and is more suitable for pollution reduction scenarios in developing countries. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Finance & Financial Law / Finanse i Prawo Finansowe is the property of Wydawnictwo Uniwersytetu Lodzkiego and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Railway Science & Engineering is the property of Journal of Railway Science & Engineering Editorial Office and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper develops a simplified agent-based model to investigate the dynamics of risk transfer and its implications for systemic risk within financial networks, focusing specifically on credit default swaps (CDSs) as instruments of risk allocation among banks and firms. Unlike broader models that incorporate multiple types of economic agents, our approach explicitly targets the interactions between banks and firms across three markets: credit, interbank loans, and CDSs. This model diverges from the frameworks established by prior researchers by simplifying the agent structure, which allows for more focused calibration to empirical data—specifically, a sample of Swiss banks—and enhances interpretability for regulatory use. Our analysis centers around two control variables, CDSc and CDSn, which control the likelihood of institutions participating in covered and naked CDS transactions, respectively. This approach allows us to explore the network’s behavior under varying levels of interconnectedness and differing magnitudes of deposit shocks. Our results indicate that the network can withstand minor shocks, but higher levels of CDS engagement significantly increase variance and kurtosis in equity returns, signaling heightened instability. This effect is amplified during severe shocks, suggesting that CDSs, instead of mitigating risk, propagate systemic risk, particularly in highly interconnected networks. These findings underscore the need for regulatory oversight to manage risk concentration and ensure financial stability.

Subway construction is often in a complex natural and human-machine operating environment, and that complicated setting leads to subway construction being more prone to safety accidents, which can cause substantial casualties and monetary losses. Thus, it is necessary to investigate the safety risks of subway construction. The existing literature on the identification and assessment of subway construction safety risks (SCSR) is susceptible to the influence of subjective factors. Moreover, although existing studies have explored the interrelationships between different risks, these studies usually analyze the interrelationships of single risks, lack the study of risk chain transfer relationships, and fail to find out the key path of risk transfer. Therefore, this paper innovatively combines text mining, association rules, and complex networks to deep mine subway construction safety incident reports and explore the risk transfer process. Firstly, it uses text mining technology to identify subway construction safety risks. Then, association rules are introduced to explore the causal relationships among safety risks. Finally, the key safety risks and important transfer paths of subway construction safety accidents (SCSA) are obtained based on the complex network model. Research results show that (a) improper safety management, unimplemented safety subject responsibilities, violation of operation rules, non-perfect safety responsibilities system and insufficient safety education and training are the key safety risks in SCSA; (b) two shorter key risk transfer paths in the subway construction safety network can be obtained: insufficient safety education and training→lower safety awareness→violation of operation rules→safety accidents; insufficient safety checks or hidden trouble investigations→violation of operation rules→safety accidents; (c) in the process of risk transfer, the risk can be controlled by controlling the key safety risk or cutting off the transfer paths. This paper provides new ideas and methods for SCSR identification and influence element mining, and the results of the study help safety managers propose accurate subway construction safety risk control measures. [ABSTRACT FROM AUTHOR]

Pension risk transfer and longevity risk transfer are now growing secular trends. From North America to Europe, companies are de-risking pension plans in near-record volumes and have continued to boldly do so throughout the pandemic—at or near the most favorable pricing experienced in years. The arrival of funded reinsurance on both sides of the Atlantic is bringing reinsurer capital and private assets to support the steady growth in the pension risk transfer market. Additionally, we have observed that the enduring low-rate environment and quest for uncorrelated risk has the world's largest investors directing billions into life reinsurance sidecars. How have these markets thrived during the worst global outbreak in a century? Key research on the pandemic's impact on pensioner life expectancy allowed prices to be set and transactions to proceed through a time of significant uncertainty. [ABSTRACT FROM AUTHOR]

Introduction: Violent extremism risk assessments of individuals suspected or convicted of terrorism are relevant for legal decisions, in prison and probation settings, and in inter-professional risk collaboration. These risk assessment reports by professionals should be applicable to and usable for the different judicial contexts. Informal and formal clinical practice evaluations, in the form of practitioners feedback and standardised evaluation of professional violent extremism risk reports are needed to gain insight in the use and quality of violent extremism risk assessments. Methods: In this study we examined how forensic professionals from three different countries (Sweden, Belgium and the Netherlands) use the VERA-2R in different judicial contexts. We also investigated which organizational aspects are important for the use of the VERA-2R. We focused on the perspective of the forensic professionals and their judicial organisations. We did a standardised survey among 86 VERA-2R trained professionals and a standardised interview with 20 executives and managers of organizations working with the VERA-2R. Results: This study showed that professionals find the VERA-2R useful for structuring information and speaking a common risk language. However, using the VERA-2R comes with a variety of challenges, both on the professional and organisational level. VERA-2R trained professionals had few opportunities to use the instrument and when they did, they were not always offered regular supervision, intervision and booster training. Also, organisational issues in collaboration between judicial partner organisations and the lack of risk transfer information to professionals came to light. Discussion: More research on the topic of risk transfer is needed. Policy implications are advised, for example the development of booster trainings, more organizational support, regulations on re-assessments, providing expertise and knowledge to indirect stakeholders and clear writing guidelines. [ABSTRACT FROM AUTHOR]

This study examines Cambodian farmers' demand for weather index insurance (WII), an innovative financial product, for managing climate change-related risks. Rice and cassava farmers in Battambang Province of Cambodia were interviewed to understand their preferences for WII. We applied a binary logistic model to quantify the factors that influence farmers' WII demand. We discovered that farmers' marital status and off-farm labor are crucial factors that impact the demand for WII. More importantly, we also investigated gender differences, considering the critical role of women in the agricultural sector and personality differences between men and women. Our findings indicated that for male respondents, being married and having an additional off-farm laborer increase the probability of demand for WII by 72.6% and 36.8%, respectively. For female respondents, the education level is the most significant factor in making purchase decisions. An additional year of education increases the probability of WII demand by 5.0%. Generally, our results are consistent with some prior studies but inconsistent with others. This suggests that further research is necessary to understand the barriers associated with WII schemes and how to overcome them. Regardless, our study provides valuable insights for various stakeholders in implementing WII schemes, including financial professionals, insurance companies, communities, and governments, for designing more flexible WII products, improving farmers' financial literacy, and providing effective post-event support to enhance farmers' resilience to climate change. [ABSTRACT FROM AUTHOR]

Genebanks are crucial for safeguarding global crop diversity but are themselves exposed to several risks. However, a scientific basis for identifying, assessing, and managing risks is still lacking. Addressing these research gaps, this study provides risk analysis for three key risk groups: natural hazards, political risks, and financial risks, carried out on a sample of 80 important national and international genebanks, comprising at least 4.78 million accessions or roughly 65% of the reported total of ex situ conserved accessions worldwide. The assessment tool of Munich Re "Natural Hazards Edition" allowed a location-specific comparison of the natural hazard exposure. Results showed that genebanks in the Asia-Pacific region are most exposed to natural hazards, while institutions in African and some Asian countries are rather vulnerable to political risks. Financing is a major problem for national genebanks in developing countries, whereas the Global Crop Diversity Trust achieved considerable financial security for international genebanks. Large differences in the risk exposure of genebanks exist, making a location- and institution-specific risk assessment indispensable. Moreover, there is significant room for improvement with respect to quality and risk management at genebanks. Transferring risks of genebanks to third parties is underdeveloped and should be used more widely. [ABSTRACT FROM AUTHOR]

Copyright of Pearl River is the property of Pearl River Editorial Office and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The evolution and transfer of risk elements of urban river ecological management projects are primarily responsible for the difficulty of risk management in these projects. In this paper, we identify 63 risk elements of urban river ecological management projects using in-depth literature reviews and brainstorming. The association among all the risk elements is constructed using an expert survey method, and the risk elements are utilized as network nodes. The relationships between these nodes are then used as network edges (i.e., paths) to construct a complex network model. By using the network visualization and analysis tool anaconda3, we analyze the overall and local characteristic parameters of the risk network. The risk transmission characteristics of the urban river ecological management project are analyzed according to the parameter characteristics to reveal the inner relationships of risk transmission inherent in the complex network. We use the Jinghe ecological management project in Jinghe New City to verify the effectiveness of the proposed model. The study demonstrates that the starting node risk needs to be controlled, and the conduction node that indirectly triggers risk propagation needs to be cut off to achieve risk prevention and control. Accordingly, the risk prevention strategy is proposed, namely, paying close attention to the starting nodes of schedule delay risk, construction cycle risk and cost overrun risk, as well as the conduction risk nodes of project complexity risk, quality assessment risk, construction accident risk and improper drawing design risk. Effective measures should be taken to control the transmission and occurrence of risks based on these two aspects. The study reveals the network evolution of risk factors, which enriches the theory of the risk factor network evolution and evaluation of urban river ecological management projects. [ABSTRACT FROM AUTHOR]

The purpose of the article is to substantiate the features of risk management at the enterprise in conditions of uncertainty of the situation to increase its adaptive capabilities and maneuverability, as well as to outline the basic principles and methods allowing to quickly respond to existing and potential threats and to limit the negative impact of risks on the activities of the enterprise. The author identifies the transformation of the approach to the formation of a risk management system from financially-oriented to personnel-oriented. It is found that in the process of risk management, a register of risks along with a risk map should be formed and appropriate management measures should be worked out, which should not formally, but actually improve the quality of management. Based on the changing circumstances of business functioning, the basic principles of risk management in the enterprise are identified, including the following: systematicity, integratedness, comprehensiveness, efficiency, dynamism, prevention, consistency, multi-variateness. The stages of risk management in the enterprise are allocated, the quality of which affects the overall result that will be obtained in the end. Approaches to risk management in the enterprise are substantiated and attention is focused on the need for their regular review and adaptation to the conditions, which will ensure compliance with the requirements of dynamism and flexibility of business decision-making. The methods of risk management in the enterprise are systematized. It is proved that the methods can be applied both at the stage of preliminary elaboration of risks and managerial decision-making regarding them, and in the process of their transformation consequently to a certain level of uncertainty inherent in both the external and the internal environment

Abstract The offshore integrated energy system plays important role in the offshore oil and gas processing industry. To ensure the safe development of offshore oil and gas resources, accurately assessing their risks is crucial. First, this article describes the risk factors that affect the operation of the equipment and builds a risk model that takes into account the relevance of the coupled system; then, a risk transfer model based on material–energy analysis is proposed, which describes the transfer of risk through material–energy flow. In addition, according to the structure and operating characteristics of the offshore integrated energy system, a risk indicator system has been designed from five levels: operational risk, energy supply risk, structural risk, economic risk and environmental risk. Finally, by taking the simulation experiment of an offshore oil and gas platform, the proposed model in this paper evaluates the risks of offshore oil and gas platforms accurately.

Copyright of Agricultural Outlook (1673-3908) is the property of Institute of Agricultural Information, Chinese Academy of Agricultural Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

PT. Kereta Api Indonesia (Persero) or PT. KAI is one of the State-Owned Enterprises which is engaged in inland transportation, namely trains. In the process of providing transportation services, PT. KAI requires a continuous supply of fuel oil. In the operation of the fuel supply chain, PT. KAI has potential risks such as losses and several other risks that can harm the company. From these problems, this research tries to conduct a risk analysis by applying the ISO 31000 risk management framework to determine the effectiveness of PT. KAI in managing fuel supply chain risks. The distribution of subsidized fuel has been implemented before 2012 by PT KAI is the loco scheme, where a high level of potential risk is found outside the risk tolerance limit so that PT. KAI responds to this problem with risk transfer. Where is PT. KAI tries to take risks by using third-party services to provide and manage fuel for train operations' consumption needs.

As economic losses caused by natural disasters substantially increase in volume, impacting national economies, post-disaster reconstruction financing becomes crucial, especially for countries with fragile economies. The growing gap between economic and insured losses calls for a pragmatic approach related to financial protection solutions. Romania is one of the few countries that adopted a solution to cut down this deficit of protection in the case of the residential system. This system considers reinsurance as a sustainable risk transfer method, meant to quickly and efficiently attract the funds required to rebuild the housing stock in the event of a disaster.

• Net income and divided absorption of sales shocks is limited across firms and industries. • Smoothing channels as Materials, G&A expenses, and wages significantly mitigate sales shock. • Net income smoothing channels represent tools for corporate risk management. This study introduces an enriched framework depicting the channels through which managers can mitigate sales shock impacts on firm net income and dividends. Employing variance decomposition, this study provides insights into the proportion of sales shocks absorbed through different firm-level net income smoothing channels. We control for the nature (positive vs. negative) and duration (persistent vs. transitory) of sales shocks. Our findings offer significant insights into income and dividend smoothing. Research implications for theory and practice are further explored. [ABSTRACT FROM AUTHOR]

Subway construction is often in a complex natural and human-machine operating environment, and that complicated setting leads to subway construction being more prone to safety accidents, which can cause substantial casualties and monetary losses. Thus, it is necessary to investigate the safety risks of subway construction. The existing literature on the identification and assessment of subway construction safety risks (SCSR) is susceptible to the influence of subjective factors. Moreover, although existing studies have explored the interrelationships between different risks, these studies usually analyze the interrelationships of single risks, lack the study of risk chain transfer relationships, and fail to find out the key path of risk transfer. Therefore, this paper innovatively combines text mining, association rules, and complex networks to deep mine subway construction safety incident reports and explore the risk transfer process. Firstly, it uses text mining technology to identify subway construction safety risks. Then, association rules are introduced to explore the causal relationships among safety risks. Finally, the key safety risks and important transfer paths of subway construction safety accidents (SCSA) are obtained based on the complex network model. Research results show that (a) improper safety management, unimplemented safety subject responsibilities, violation of operation rules, non-perfect safety responsibilities system and insufficient safety education and training are the key safety risks in SCSA; (b) two shorter key risk transfer paths in the subway construction safety network can be obtained: insufficient safety education and training→lower safety awareness→violation of operation rules→safety accidents; insufficient safety checks or hidden trouble investigations→violation of operation rules→safety accidents; (c) in the process of risk transfer, the risk can be controlled by controlling the key safety risk or cutting off the transfer paths. This paper provides new ideas and methods for SCSR identification and influence element mining, and the results of the study help safety managers propose accurate subway construction safety risk control measures.

Drought is an almost annual phenomenon affecting many parts of Sri Lanka, causing huge damage to agriculture and losses to the broader economy in general and farmers in particular. Climate change threatens to exacerbate these risks. Risk transfer mechanisms, such as crop insurance schemes, may help buffer farmers against these hazards and has gained attention as an adaptation response to become an important element in agricultural risk management. Despite the numerous efforts over several decades to popularize crop insurance as a risk transfer tool in the country under heavy subsidies, farmers' voluntary enrollment in crop insurance has been very low. Therefore, understanding the farmers' behaviors and attitudes towards crop insurance and the potential of such programs in emerging climate-induced vulnerabilities is critical to enhancing the welfare of the farming community. This paper assesses the factors that influence willingness to enroll for crop insurance among farmers in irrigated and rainfed farming system in the drought-prone North Central Province of Sri Lanka using a logistic regression model. The study sample consisted of 149 irrigated farmers and 51 rainfed farmers selected randomly. Regression results show that farmer’s age, agriculture as the primary source of income, irrigation as the source of water, and availability of supplementary water source are significantly related to willingness to pay (WTP) for insurance. The overall results indicate the role of household socioeconomic factors and their contextualized risk perceptions shape the adoption decision of crop insurance. The findings of the paper contribute to that end through primary data from a rainfed and irrigated areas in the province. Although the present research was carried out in a limited area, the study area is dominated by the traditional nature of agricultural practices by smallholder farmers in a drought exposed environment, the findings of the study should apply to the rest of the dry zone areas in the country. The results on factors affecting farmers' willingness to purchase crop insurance assist the practitioners and policymakers to draft the guidelines and strategies for more inclusive interventions for agriculture risk management and building farmer resilience.

Sometimes people help one another expecting to be repaid, while at other times people help without an expectation of repayment. What might underlie this difference in expectations of repayment? We investigate this question in a nationally representative sample of US adults (N = 915), and find that people are more likely to expect repayment when needs are perceived to be more predictable. We then replicate these findings in a new sample of US adults (N = 417), and show that people have higher expectations of repayment when needs are perceived to be more predictable because people assign greater responsibility to others for experiencing such predictable needs (e.g., needing money for utilities). This is consistent with previous work based on smaller-scale societies, which shows that the predictability of needs influences expectations of repayment. Our results also add to this previous work by (1) showing that the positive relationship between predictability of needs and expectations of repayment previously found in smaller-scale communities is generalizable to the US population, and (2) showing that attributions of responsibility partially mediate this relationship. This work shows that the predictability of needs and attributions of responsibility for that need are important factors underlying the psychology of helping in times of need.

Algorithmic predictions are used in insurance to assess the risk exposure of potential customers. This article examines the impact of digital tools on the field of motor insurance, where telematics devices produce data about policyholders’ driving styles. The individual’s resulting behavioural score is combined with their actuarial score to determine the price of the policy or additional incentives. Current experimentation is moving in the direction of proactivity: instead of waiting for a claim to arise, insurance companies engage in coaching and other interventions to mitigate risk. The article explores the potential consequences of these practices on the social function of insurance, which makes risks bearable by socialising them over a pool of insured individuals. The introduction of behavioural variables and the corresponding idea of fairness could instead isolate individuals in their exposure to risk and affect their attitude towards future initiatives.

This study examines Cambodian rice farmers' willingness to pay for the weather-indexed insurance (WII) proposed to manage the financial impact of shifting monsoon rainfall patterns in Battambang Province in north-western Cambodia. Detailed interviews are conducted in the districts of Bavel and Thma Koul. We first analyse farmer respondents' socioeconomic and demographic characteristics, climate change perceptions and experience, risk attitudes, and awareness of insurance. The binary logistic model is used to identify factors that significantly impact farmers' willingness to pay (WTP) for WII. Our results show that farmers in general had lower awareness of how to use innovative financial products to adapt to extreme weather. The results also demonstrate that farmer respondents' marital status, the number of off-farm labourers, and the farm size have a positive effect, whereas the number of children in the household has a negative effect on farmers' WTP for WII. Specifically, being married, an increase of one off-farm labourer, and an increase of one hectare (ha) of farmland increase the probability of demand for WII by 38.6%, 21.4%, and 5.1%, respectively. In contrast, an increase of one child reduces the probability of WII demand by 9.7%. We also identify challenges confronted by Cambodian farmers for participating in the proposed WII scheme and provide relevant recommendations to overcome these challenges. [ABSTRACT FROM AUTHOR]

In many West African river basins, households regularly experience floods and the associated impacts. In the absence of widely accessible formal risk transfer mechanisms (e.g., insurance), households often have to cope with financial impacts. Only a few studies have explored the financial effects of floods on agriculture-dependent households in the region and the role formal and informal risk transfer plays in their mitigation. This study addresses this gap, explores flood impacts with financial implications for households, and researches the existing strategies to mitigate them. Moreover, it aims to better understand how different measures influence the recovery process. The study draws on primary data from a household survey (n = 744) in the Lower Mono River basin, combined with stakeholder workshops and semi-structured interviews, and applies a generalized linear model to the survey data. The results reveal four flood impact types with financial implications: agricultural, material, health, and trade. Moreover, a shortened recovery time is significantly associated with assistance from savings groups and cooperatives—groups originally not formed to help during floods. In light of the severe and frequent flood impacts, effective and publicly accepted adaptation measures are needed to enable favorable conditions for creating sustainable and accessible risk transfer mechanisms. [ABSTRACT FROM AUTHOR]

Background: Despite the efforts of contractors to identify and reduce any occupational risk that exists in subcontracted works, if the associated risks cannot be eliminated and reduced and subcontractors have to take risks, this situation can be called 'risk transfer.' The hypothesis of this study is that the contractor–subcontractor status of a company affects the risk of occupational injury or occupational disease. The inside subcontractor and outside subcontractor represent subcontractors located inside and outside the contractor workplace, respectively. Methods: The dataset from the 9th Occupational Safety and Health Company Survey (OSHCS) with 5219 workplaces, which was conducted in South Korea, was used. After the exclusion of 45 workplaces with no reported employees, 5174 workplaces with a total of 1,072,583 employees were used for analysis. Poisson regression was applied with the contractor–subcontractor category as the independent variable and the number of both occupational injury and disease cases per workplace as the dependent variable. Poisson regression is an appropriate model for the count-data analysis of rare events that do not follow a normal distribution but rather follow a right-skewed distribution. Results: Compared to the 'contractor' category, the 'outside contractor' reported the highest risk ratio, 1.66 (95% Confidence Interval, CI 1.09–2.41). The 'inside contractor' reported the second highest risk ratio, 1.39 (95% CI 1.07–1.78). In contrast, the 'both contractor and subcontractor' category reported a statistically significant decreased risk ratio of 0.69 (95% CI 0.57–0.84). The 'neither contractor nor subcontractor' category showed a statistically equivocal risk ratio of 0.91 (95% CI 0.76–1.07). Conclusion: This study confirmed the increased risk of occupational injuries and diseases for subcontractors, whether located inside or outside the contractor workplace (1.66-fold and 1.39-fold increased risk, respectively). Future individual-based epidemiologic studies such as case–control and cohort studies could provide more detailed information such as specific risk factors associated with subcontracted works and confounders according to industry classification. [ABSTRACT FROM AUTHOR]

Background: The series of serious industrial accidents in recent years at contractors to large companies has highlighted risk outsourcing as a real and urgent problem. This study aims to review the difference in the degree of risk exposure and the occurrence of industrial accidents depending on the type of company relations. Among in-house contractors, the focus will be on those handling hazardous chemicals that include companies for which outsourcing requires approval. Methods: This study uses the 9th wave of the Industrial Safety and Health Survey (2018). For determining the degree of risk exposure, the occurrence of industrial accidents, and industrial accident rate, multivariate, logistic, and fractional logit, regression analyses were used, respectively. Results: First, In-house contractors’ degree of risk exposure is higher than that of the client companies. In particular, this gap is even greater for companies dealing with chemicals. Second, among only those that handle hazardous chemicals, in-house contractors do show a significantly higher rate of industrial accident occurrence. Third, In-house contractors have a significantly higher rate of industrial accidents from diseases than client companies. Conclusion: The analysis supports the intent of the legal amendment that strengthens the protection of in-house contracted workers who handle hazardous chemicals. Second, the results of this study suggest that safety and health management must go beyond legal compliance and ensure that it has substance and effectiveness. Last, there should be policy consideration is necessary to reduce attempts to hide industrial accidents.

The evolution and transfer of risk elements of urban river ecological management projects are primarily responsible for the difficulty of risk management in these projects. In this paper, we identify 63 risk elements of urban river ecological management projects using in-depth literature reviews and brainstorming. The association among all the risk elements is constructed using an expert survey method, and the risk elements are utilized as network nodes. The relationships between these nodes are then used as network edges (i.e., paths) to construct a complex network model. By using the network visualization and analysis tool anaconda3, we analyze the overall and local characteristic parameters of the risk network. The risk transmission characteristics of the urban river ecological management project are analyzed according to the parameter characteristics to reveal the inner relationships of risk transmission inherent in the complex network. We use the Jinghe ecological management project in Jinghe New City to verify the effectiveness of the proposed model. The study demonstrates that the starting node risk needs to be controlled, and the conduction node that indirectly triggers risk propagation needs to be cut off to achieve risk prevention and control. Accordingly, the risk prevention strategy is proposed, namely, paying close attention to the starting nodes of schedule delay risk, construction cycle risk and cost overrun risk, as well as the conduction risk nodes of project complexity risk, quality assessment risk, construction accident risk and improper drawing design risk. Effective measures should be taken to control the transmission and occurrence of risks based on these two aspects. The study reveals the network evolution of risk factors, which enriches the theory of the risk factor network evolution and evaluation of urban river ecological management projects.

Special emphasis is put on the strategic management of insurance companies and the management of risks as a possibility to realize losses and to manage them by means of methods aimed at reducing, controlling and financing those risks. The process of risk management is an ongoing and evolving one with a clear separation of duties for the staff involved in its management in and out of the insurance company. The focus is on the risks for the insurance company and the search for adequate methods for risk management. The purpose of this article is to systematize the risks inherent in the insurance company and the possible methods of risk management with applicability in practice. The main thesis of the article is that risk management methods have an inherent and justified, full or partial application among insurance companies and must be complex. The complex nature also requires integrated application of management methods, by risks and levels – “insurance company level”, “insurance company level and insurance product” level. [ABSTRACT FROM AUTHOR]

Emerging parametric insurance products targeted at regional governments consider an index of flooding as the instrument for payoff and rate setting. Inundation extent from satellite remote sensing may provide a more direct measure of flood risk in this context than hydraulic modeling of flow and inundation. Here, we examine satellite‐based fractional inundated area as a proxy for flood impact that can be used for index insurance payment at a regional scale. Typical methods for estimating return periods from unbounded distributions such as the Generalized Extreme Value distribution are not appropriate for fractional flooded area, which is bounded by 0 and 1. Here we examine alternative bounded distributions (2 parameter and a 4 parameter Beta) to estimate return periods and quantify uncertainty using a bootstrap sampling procedure for the short duration satellite record of fractional flooded area. We consider two examples with distinct flood dynamics (a) a country (Bangladesh) where a flood can cover the majority of the land surface, and (b) a river basin (the Rio Salado basin in Argentina) where the worst flood covered only a modest fraction of the watershed. We explore how a parametric insurance policy based on fractional flooded area could be priced based on a typical approach used in the industry, that accounts for uncertainty for small sample estimation. Our exploratory approach to model selection illustrates how estimating the uncertainty price influences insurance contract pricing and is important to consider the choice of distribution beyond just the traditional measures of goodness of fit. Plain Language Summary: Index insurance, catastrophe bonds, and other types of risk transfer instruments could play an important role in adapting to floods and ensuring sustainable development in a world of increasing flood risk. In this article, we examine how satellite time series of inundation can be used to develop an emerging type of flood insurance, known as parametric or index‐based insurance. Unlike traditional indemnity insurance, which relies on adjusters to estimate loss for individual damage, index insurance uses data ex‐ante to determine payout contracts when pre‐specified thresholds are crossed. Inundation extent from satellite remote sensing may provide a more direct measure of flood risk than data from models or stream gauges. However, typical methods used to estimate return periods for floods from models and gauges are not appropriate for fractional inundated area measurements from satellites. Here we provide a more appropriate method to estimate return periods and quantify uncertainty to price an insurance product leveraging the relatively short satellite record. Example applications for Bangladesh and Rio Salado, Argentina are provided. We show why estimating and pricing uncertainty ultimately influences insurance contract pricing and can help governments select insurance policies that align with their flood adaptation strategy. Key Points: Estimating return periods for fractional inundated area with the oft‐used Generalized Extreme Value distribution is inappropriateBounded distributions (e.g., Beta) reduce uncertainty estimates for probability of exceedance from short duration inundation time seriesExample design and price of parametric flood insurance with fractional inundated area in Bangladesh and Argentina accounting for uncertainty [ABSTRACT FROM AUTHOR]

In this paper, a policy-based network management (PBNM) strategy has been proposed to defend DDoS attack along with maintaining Quality of Service (QoS) for legitimate users. During cautious or alert level users having a contract are only allowed to enter into the network. Moreover, PBNM has been used for enabling users to negotiate with the service provider dynamically on cost and types of services. Extensive experimentations have been carried out to check the validity of the proposed model. Experimentation has been performed in two phases. In first phase reachability condition will be checked on PN2 simulator and SPIN while in second phase, NS-2 is used to monitor the performance of the proposed model according to networking parameters. Results from implementation show the supremacy of the proposed model. [ABSTRACT FROM AUTHOR]

Abstract Emerging parametric insurance products targeted at regional governments consider an index of flooding as the instrument for payoff and rate setting. Inundation extent from satellite remote sensing may provide a more direct measure of flood risk in this context than hydraulic modeling of flow and inundation. Here, we examine satellite‐based fractional inundated area as a proxy for flood impact that can be used for index insurance payment at a regional scale. Typical methods for estimating return periods from unbounded distributions such as the Generalized Extreme Value distribution are not appropriate for fractional flooded area, which is bounded by 0 and 1. Here we examine alternative bounded distributions (2 parameter and a 4 parameter Beta) to estimate return periods and quantify uncertainty using a bootstrap sampling procedure for the short duration satellite record of fractional flooded area. We consider two examples with distinct flood dynamics (a) a country (Bangladesh) where a flood can cover the majority of the land surface, and (b) a river basin (the Rio Salado basin in Argentina) where the worst flood covered only a modest fraction of the watershed. We explore how a parametric insurance policy based on fractional flooded area could be priced based on a typical approach used in the industry, that accounts for uncertainty for small sample estimation. Our exploratory approach to model selection illustrates how estimating the uncertainty price influences insurance contract pricing and is important to consider the choice of distribution beyond just the traditional measures of goodness of fit.

Governments globally have endorsed Vision Zero, declaring that no person should be killed or permanently injured on public roads. Concurrently, the wider social, public health, and environmental implications of urban structure and transport choices have gained intense policy attention, as cities aim to transition toward sustainable accessibility. This is especially the case as research reveals a range of counter-intuitive road safety dynamics; many narrow approaches to road safety management appear to trigger adverse risk compensation and negative externality effects, potentially running counter to broader sustainability goals. Recognizing the urgent need to integrate road safety with broader urban sustainability measures, this paper presents a review of road safety literature using the established Hazard Control Hierarchy. In doing so, we identify and categorize opportunities to more effectively combine Vision Zero with broader sustainable accessibility policy objectives. We synthesize the literature against the Hazard Control Hierarchy to devise a framework to more effectively integrate the work of professional disciplines which shape the safety and sustainability of the urban built environment. [ABSTRACT FROM AUTHOR]