Description

This paper discusses historical earthquakes and earthquake risk in the People's Republic of China (PRC) and the recent developments of its earthquake risk reduction efforts. The general principles of earthquake programs are explained and the critical issues of formulating earthquake programs in the PRC are discussed, including lessons from earthquake insurance in other countries and other catastrophe insurance in the PRC, data issues, loss risk modeling issues, financial risk modeling issues, legislative issues, and public awareness issues. The paper concludes with policy suggestions for the Asian Development Bank in the PRC.

Contents

• Historical Earthquakes and Earthquake Risk in the People’s Republic of China (PRC)
• Recent Development of PRC’s Earthquake Disaster Reduction Efforts
• General Principles of Earthquake Insurance
• Role of Earthquake Insurance
• PRC Experience in Catastrophe Insurance
• Policy Implications for ADB in the PRC