The Effects of Climate Change in the Insurance Sector: A Case of Turkey
While climate change is one of the biggest threats to life on the planet, it’s obvious that it’ll have negative effects on the economic system if necessary precautions aren’t taken. Climate change is increasing its impact day-by-day and causes great financial losses. The insurance sector is the most...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Artvin Coruh University
2024-07-01
|
| Series: | Doğal Afetler ve Çevre Dergisi |
| Subjects: | |
| Online Access: | https://dacd.artvin.edu.tr/tr/download/article-file/3612940 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832555453143318528 |
|---|---|
| author | Tuğçe Torusdağ Mustafa Tepeci İsmail Metin |
| author_facet | Tuğçe Torusdağ Mustafa Tepeci İsmail Metin |
| author_sort | Tuğçe Torusdağ |
| collection | DOAJ |
| description | While climate change is one of the biggest threats to life on the planet, it’s obvious that it’ll have negative effects on the economic system if necessary precautions aren’t taken. Climate change is increasing its impact day-by-day and causes great financial losses. The insurance sector is the most affected by the consequences of climate change. Insurance companies need to give importance to research, understanding, risk analysis and management in order to reduce the cost they’ve to bear in case of damage. While climate change is a risk for the sector, it creates new opportunities. It’s become a necessity today to carry out studies to minimize the effects of climate change and to raise awareness. Severe effects of weather events caused by climate change; the annual average temperature, the total annual precipitation and the number of extreme events. In this study, the effect of climate change on the compensation paid in the disease/health branch, agriculture branch and fire and natural disasters insurance branches was examined. Claims paid in five branches between 1990and2021 and meteorological data were tested with standard unit-root tests, structural break analyzes and relationship between them was determined by ARDL cointegration test. Significant relationships between the variables are determined. |
| format | Article |
| id | doaj-art-279dd098ea76480e901150fe2e7eb3d5 |
| institution | Kabale University |
| issn | 2528-9640 |
| language | English |
| publishDate | 2024-07-01 |
| publisher | Artvin Coruh University |
| record_format | Article |
| series | Doğal Afetler ve Çevre Dergisi |
| spelling | doaj-art-279dd098ea76480e901150fe2e7eb3d52025-02-03T05:48:08ZengArtvin Coruh UniversityDoğal Afetler ve Çevre Dergisi2528-96402024-07-0110240942310.21324/dacd.1408028The Effects of Climate Change in the Insurance Sector: A Case of TurkeyTuğçe Torusdağ0https://orcid.org/0000-0002-0581-4121Mustafa Tepeci1https://orcid.org/0000-0001-9311-1532İsmail Metin2https://orcid.org/0000-0002-2256-7169Manisa Celal Bayar Üniversitesi, SBE, Ekonomi ve Finans ABD, 35140, ManisaManisa Celal Bayar Üniversitesi, İşletme Fakültesi, İşletme, 35140, Manisa.Manisa Celal Bayar Üniversitesi, İşletme Fakültesi, Ekonomi ve Finans, 35140, Manisa.While climate change is one of the biggest threats to life on the planet, it’s obvious that it’ll have negative effects on the economic system if necessary precautions aren’t taken. Climate change is increasing its impact day-by-day and causes great financial losses. The insurance sector is the most affected by the consequences of climate change. Insurance companies need to give importance to research, understanding, risk analysis and management in order to reduce the cost they’ve to bear in case of damage. While climate change is a risk for the sector, it creates new opportunities. It’s become a necessity today to carry out studies to minimize the effects of climate change and to raise awareness. Severe effects of weather events caused by climate change; the annual average temperature, the total annual precipitation and the number of extreme events. In this study, the effect of climate change on the compensation paid in the disease/health branch, agriculture branch and fire and natural disasters insurance branches was examined. Claims paid in five branches between 1990and2021 and meteorological data were tested with standard unit-root tests, structural break analyzes and relationship between them was determined by ARDL cointegration test. Significant relationships between the variables are determined.https://dacd.artvin.edu.tr/tr/download/article-file/3612940climate changeglobal warminginsuranceparametric insurance |
| spellingShingle | Tuğçe Torusdağ Mustafa Tepeci İsmail Metin The Effects of Climate Change in the Insurance Sector: A Case of Turkey Doğal Afetler ve Çevre Dergisi climate change global warming insurance parametric insurance |
| title | The Effects of Climate Change in the Insurance Sector: A Case of Turkey |
| title_full | The Effects of Climate Change in the Insurance Sector: A Case of Turkey |
| title_fullStr | The Effects of Climate Change in the Insurance Sector: A Case of Turkey |
| title_full_unstemmed | The Effects of Climate Change in the Insurance Sector: A Case of Turkey |
| title_short | The Effects of Climate Change in the Insurance Sector: A Case of Turkey |
| title_sort | effects of climate change in the insurance sector a case of turkey |
| topic | climate change global warming insurance parametric insurance |
| url | https://dacd.artvin.edu.tr/tr/download/article-file/3612940 |
| work_keys_str_mv | AT tugcetorusdag theeffectsofclimatechangeintheinsurancesectoracaseofturkey AT mustafatepeci theeffectsofclimatechangeintheinsurancesectoracaseofturkey AT ismailmetin theeffectsofclimatechangeintheinsurancesectoracaseofturkey AT tugcetorusdag effectsofclimatechangeintheinsurancesectoracaseofturkey AT mustafatepeci effectsofclimatechangeintheinsurancesectoracaseofturkey AT ismailmetin effectsofclimatechangeintheinsurancesectoracaseofturkey |