New Earth Science Study Findings Have Been Reported by S.J. Ma and Co-Researchers (Discrete dynamical Pareto optimization model in the risk portfolio…

Science Letter

New Earth Science Study Findings Have Been Reported by S.J. Ma and Co-Researchers (Discrete dynamical Pareto optimization model in the risk portfolio for natural disaster insurance in China)

By a News Reporter-Staff News Editor at Science Letter -- Fresh data on Science - Earth Science are presented in a new report. According to news reporting originating from Jiangsu, People's Republic of China, by NewsRx correspondents, research stated, "Disaster insurance is an effective way in reducing and sharing natural disaster risk. In this paper, a special risk management model based on the cooperative insurance among the operating governments, insurance market and public is proposed."

Financial supporters for this research include National Natural Science Foundation of China, Humanity and Social Science Youth Foundation of Ministry of Education of China (see also Science - Earth Science).

Our news editors obtained a quote from the research, "Firstly, we divided the study areas into units. In each unit, we analyze the risk stochastic process of the insurers and the operating governments, the latter providing the policy support and the subsidy. Secondly, the processes of the fixed risk initial value, the premium income, the transaction cost and the claim are all considered in the risk stochastic process of the insurers. In the risk stochastic process of the public, we consider the pure income after claim and the subsidy from the operating governments. Then, we introduce the ruin probability and stable operation of insurers, the stopping time of the ruin probability and the recovery capability of the public. The risk portfolio stochastic optimal model, which shows that each party can effectively participate in this management model, is established in order to ensure the equilibrium between the insurance supply and demand. The ruin probability, stability of insurance market and the recovery capability of the public are considered completely in this model."

According to the news editors, the research concluded: "Finally, we conduct numerical simulation to verify the results of the models."

For more information on this research see: Discrete dynamical Pareto optimization model in the risk portfolio for natural disaster insurance in China. Natural Hazards, 2018;90(1):445-460. Natural Hazards can be contacted at: Springer, 233 Spring St, New York, NY 10013, USA. (Springer - www.springer.com; Natural Hazards - www.springerlink.com/content/0921-030x/)

The news editors report that additional information may be obtained by contacting S.J. Ma, Nanjing Technical Univ, Coll Safety Sci & Engn, Jiangsu Key Lab Urban & Ind Safety, Nanjing 210009, Jiangsu, People's Republic of China.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s11069-017-3053-6. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

Keywords for this news article include: Jiangsu, People's Republic of China, Asia, Earth Science, Science, China, Asia.