• Journal of Environmental Science International
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• v.23 no.2
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• pp.171-180
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• 2014

This study provides the empirical results of the customers' necessity and intentions of purchasing weather index insurance using survey of asking the customers' recognition about weather insurance. In this article, we discovered that not only the customers' past experience of loss but also the extent of damage and the effects that change in weather would have on their firm are positively related to an intention to purchase weather index insurance. In addition, the level of premiums was significantly higher for the highly-intended group of willing to purchase weather index insurance than the comparison group.

• Journal of the Korea Society of Computer and Information
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• v.22 no.9
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• pp.99-105
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• 2017

In this paper, we propose to design and implement the database management system for analyzing vehicle accidents through utilizing integration of the public big data. And the paper aims to provide valuable information for recognizing seriousness of the vehicle accidents and various circumstances at the accident time, and to utilize the produced information for the insurance company policies as well as government policies. For analysis of the vehicle accidents the system utilizes the integrated big data of National Indicator System, the Meteorological Office, National Statistical Office, Korea Insurance Development Institute, Road Traffic Authority, Ministry of Land, Infrastructure and Transport as well as the National Police Agency, which differentiates this system from the previous systems. The system consists of data at the accident time including weather conditions, vehicle models, age, sex, insurance amount etc., by which the database system users are able to obtain the integral information about vehicle accidents. The result shows that the vehicle accidents occur more frequently in the clear weather conditions, in the vehicle to vehicle conditions and in crosswalk & crossway. Also, it shows that the accidents in the cloudy weather leads more seriously to injury and death than in the clear weather. As well, the vehicle accident information produced by the system can be utilized to effectively prevent drivers from dangerous accidents.

• Korean Journal of Organic Agriculture
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• v.28 no.4
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• pp.459-475
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• 2020

This study analyzes weather derivatives as an alternative risk management tool to stabilize farm revenue to complement the existing crop insurance program which suffers from asymmetric information problems such as adverse selection, moral hazard, and verifiability. We estimated apple yield functions to observe the relationship between yields and weather indices such as temperature and precipitation. Based on the estimated yield functions we designed weather futures and options products underlying temperature and precipitation, and calculated the prices of futures and options by two different approaches, historical distribution and Monte Carlo simulation. We found that weather futures and options stabilize farm revenue based on the estimated four risk indicators: Coefficient of Variation, Value at Risk, Certainty Equivalence, and Risk Premium. As a result, weather derivatives could be considered as a potential farm risk management tool through studying more in legal and institutional strategies and developing various derivatives products.

• Journal of the Korean Data and Information Science Society
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• v.24 no.3
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• pp.603-623
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• 2013

This paper proposes analyzing monthly rainfall patterns using copula and pricing related rainfall insurance using it. We analyze 30-year monthly precipitation data for 9 Korean cities between June and September using copula showing so that it can effectively generate realistic monthly rainfall patterns. In addition, we show that our copula rainfall models can be used in pricing various kinds of rainfall insurances effectively.

• Atmosphere
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• v.34 no.2
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• pp.107-121
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• 2024

In this study, we empirically analyzed the impact of physical risks due to climate change on the soundness and operational performance of the financial industry by combining economics and climatology. Particularly, unlike previous studies, we employed the Seasonal-Trend decomposition using LOESS (STL) method to extract trends of climate-related risk variables and economic-financial variables, conducting a two-stage empirical analysis. In the first stage estimation, we found that the delinquency rate and the Bank for International Settlement (BIS) ratio of commercial banks have significant negative effects on the damage caused by natural disasters, frequency of heavy rainfall, average temperature, and number of typhoons. On the other hand, for insurance companies, the damage from natural disasters, frequency of heavy rainfall, frequency of heavy snowfall, and annual average temperature have significant negative effects on return on assets (ROA) and the risk-based capital ratio (RBC). In the second stage estimation, based on the first stage results, we predicted the soundness and operational performance indicators of commercial banks and insurance companies until 2035. According to the forecast results, the delinquency rate of commercial banks is expected to increase steadily until 2035 under assumption that recent years' trend continues until 2035. It indicates that banks' managerial risk can be seriously worsened from climate change. Also the BIS ratio is expected to decrease which also indicates weakening safety buffer against climate risks over time. Additionally, the ROA of insurance companies is expected to decrease, followed by an increase in the RBC, and then a subsequent decrease.

• Journal of Fisheries and Marine Sciences Education
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• v.26 no.5
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• pp.1044-1057
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• 2014

This study has seen about a indemnity system of fishery damage by natural disasters such as a problem and improvement methods of government aid system and system on accident insurance for cultured fishery products. Recently, in the situation that the demage of aquaculture industry caused by frequent typhoon resulted from global warming and abnormal changed of weather is nasty, the accident insurance for cultured fishery products is necessary to show its true quality and to protect fishers against natural disasters owing to the limitation of government's aid for them. However, The objects of accident insurance for cultured fishery products which is progress on, is too short to apply, so that it is absolutely insufficient to fulfill the demands of culturing fishermen. Therefore, It could be a certain preparation to magnify the range of object items of it and to convert the trial industry being adjusted to limited area into full scale industry to adjust over all nationally. Furthermore, This insurance is complicated and strict to join rather than other insurances. As it can be seen by examples that got in trouble, despite culturing fishermen applied to join the insurance, they took all demage because the insurance was not realized. So, It is hard to say that causes impute the responsibility of it to the authority of insurance, not culturing fishery. They should simplify the registration process, limit the period each registration process and consider a countermeasure to complete it. Concerning compensation for the loss, agriculture part is easier to investigate the loss due to remained dead crop damaged by natural disaster, meanwhile, in fishing part, especially in case of cultivation of fish, it is difficult to investigate the loss and demage because crops are blown all together with typhoon when it comes plus the facilities of them are also very old. Consequently to solve the problem needs more positive attitude as it is policy insurance.

• The Korean Journal of Applied Statistics
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• v.29 no.1
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• pp.145-155
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• 2016

In this paper, we compare forecasting models for disease occurrences in elderly patients due to the weather. For the analysis, the medical data of aged patients released from Health Insurance Review and the weather data of the Korea Meteorological Administration are weekly and regionally merged. The ARMAX model, the VARMAX model and the TSCS regression model are considered to analyze the number of weekly occurrences of some diseases attributable to climate conditions. These models are compared with MSE, MAPE, and MAE criteria.

• Journal of Climate Change Research
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• v.4 no.4
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• pp.317-330
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• 2013

The yield of rice production is affected severely by abnormal weather events, such as flood, drought, high temperature etc. The objective of this paper is to assess impacts of abnormal weather events on rice production, using a panel model which analyzes both cross-section data and ti- me series data. Abnormal weather is defined as the weather event which goes beyond the range of ${\pm}2{\sigma}$ from the average of a weather factor. The result of an analysis on impacts of high temperature on rice production showed that the yield of rice was decreased 5.8% to 16.3% under the conditions of extremely high temperature, and it was decreased 8.8 to 20.8% under the conditions of both extremely high and heavy rain. Adaptation strategies, development of new varieties enduring high temperature and heavy rain, adaptation of crop insurance, modernization of irrigation facilities are needed to minimize the impacts of abnormal weather on rice production, and to stabilize farmers' income.

• Journal of Preventive Medicine and Public Health
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• v.39 no.4
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• pp.309-316
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• 2006

Objectives: Korean epidemiological studies have used reduced samples according to the subject's characteristics, such as the health services provided, the historical note with asthma, and age, to examine the acute effect of air pollution on asthma using the Korean National Health Insurance records. However, there have been few studies on whether the effects shown in these reduced samples are different from those of all samples. This study compared the effects of air pollution on asthma attacks in three reduced samples with those of entire samples. Methods: The air pollution data for $PM_{10},\;CO,\;SO_2,\;NO_2,\;and\;O_3$, and weather conditions including temperature, relative humidity, and air pressure in Seoul, 2002, were obtained from outdoor monitoring stations in Seoul. The emergency hospital visits with an asthma attack in Seoul, 2002 were extracted from the Korean National Health Insurance records. From these, the reduced samples were created by health service, historical notes with asthma, and age. A case-crossover design was adopted and the acute effects of air pollution on asthma were estimated after adjusting for weather, time trend, and seasonality. The model was applied to each reduced sample and the entire sample. Results: With respect to the health service, the effects on outpatients were similar to those for the total sample but were different for inpatients. These similar effect sizes were also observed in the reduced samples according to the historical note with asthma and age. The relative risks of $PM_{10},\;CO,\;SO_2,\;NO_2,\;and\;O_3$, among the reduced and entire samples were 1.03, 1.04-1.05, 1.02-1.03, 1.04-1.06, and 1.10-1.17, respectively. Conclusions: There was no clear evidence to show a difference between the reduced samples and the entire samples.

• Proceedings of the Korea Water Resources Association Conference
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• 2012.05a
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• pp.20-25
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• 2012

New Zealand suffers from regular floods, these being the most common source of insurance claims for damage from natural hazard events in the country. This paper describes the origin and distribution of the largest floods in New Zealand, and describes the systems used to monitor and predict floods. In New Zealand, broad-scale heavy rainfall (and flooding), is the result of warm moist air flowing out from the tropics into the mid-latitudes. There is no monsoon in New Zealand. The terrain has a substantial influence on the distribution of rainfall, with the largest annual totals occurring near the South Island's Southern Alps, the highest mountains in the country. The orographic effect here is extreme, with 3km of elevation gained over a 20km distance from the coast. Across New Zealand, short duration high intensity rainfall from thunderstorms also causes flooding in urban areas and small catchments. Forecasts of severe weather are provided by the New Zealand MetService, a Government owned company. MetService uses global weather models and a number of limited-area weather models to provide warnings and data streams of predicted rainfall to local Councils. Flood monitoring, prediction and warning are carried out by 16 local Councils. All Councils collect their own rainfall and river flow data, and a variety of prediction methods are utilized. These range from experienced staff making intuitive decisions based on previous effects of heavy rain, to hydrological models linked to outputs from MetService weather prediction models. No operational hydrological models are linked to weather radar in New Zealand. Councils provide warnings to Civil Defence Emergency Management, and also directly to farmers and other occupiers of flood prone areas. Warnings are distributed by email, text message and automated voice systems. A nation-wide hydrological model is also operated by NIWA, a Government-owned research institute. It is linked to a single high resolution weather model which runs on a super computer. The NIWA model does not provide public forecasts. The rivers with the greatest flood flows are shown, and these are ranked in terms of peak specific discharge. It can be seen that of the largest floods occur on the West Coast of the South Island, and the greatest flows per unit area are also found in this location.