New Ecological Economics Study Findings Have Been Reported by Investigators at University of Leeds (Governing the Provision of Insurance Value From Ecosystems)

2019 OCT 03 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Current study results on Ecology Research - Ecological Economics have been published. According to news reporting out of Leeds, United Kingdom, by NewsRx editors, research stated, “Ecosystems can buffer against adverse events, such as storms or pest outbreaks by reducing the probability of harm and magnitude of losses. We conceptualise factors involved in the governance of insurance value provision, drawing on the notions of protection and insurance, exogeneity and endogeneity, and allocation of rights and responsibilities.”

Financial supporters for this research include Economic and Social Research Council (ESRC), Academy of Finland.

Our news journalists obtained a quote from the research from the University of Leeds, “Using riverine floods and forest pest outbreaks as examples, we explore the challenges of governing ecosystem-based risk management. We suggest that such governance should build on existing institutions, because insurance value is jointly produced with provisioning ecosystem services and the governance arrangements for them importantly shape insurance value provision. However, existing institutional arrangements do not acknowledge involved actors’ rights and responsibilities and they do not facilitate landscape level management of risks. While PES schemes and other market-like solutions may govern the provision of insurance value when transaction costs and trade-offs between the provision of insurance value and private goods are low, regulation or public provision is needed when transaction costs and trade-offs are high.”

According to the news editors, the research concluded: “The complexity of challenges in governing the provision of insurance value highlights the need for polycentric governance involving collaboration, knowledge creation and dissemination and the funding of activities needed for them.”

For more information on this research see: Governing the Provision of Insurance Value From Ecosystems. Ecological Economics, 2019;164():. Ecological Economics can be contacted at: Elsevier, Radarweg 29, 1043 Nx Amsterdam, Netherlands. (Elsevier - www.elsevier.com; Ecological Economics - http://www.journals.elsevier.com/ecological-economics/)

Our news journalists report that additional information may be obtained by contacting J. Paavola, University of Leeds, School of Earth and Environment, Ctr Climate Change Econ & Policy, Leeds LS2 9JT, West Yorkshire, United Kingdom.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.ecolecon.2019.06.001. 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.

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