Fondul de solidaritate al Uniunii Europene. Evaluarea riscului de epuizare din cauza inundaţiilor catastrofale
The European Union solidarity fund. Assessing its risk of depletion due to catastrophe flood events

Summary/Abstract: The European Union Solidarity Fund was created for the purpose of financing measures to alleviate non-insurable damages. The 1 billion Euro Fund can be mobilized if the direct losses of a natural disaster event exceeds 3 billion Euro in 2002 prices or 0.6 percent of GNI of the State in question. The paper examines the risk of depletion of this Fund due to catastrophic flood events in Europe based on a stochastic modeling approach. For this purpose newly available risk based loss estimates for European member countries are used. The results suggest that the fund is likely to be underfunded and concludes with recommendations to make it more robust for the future.

• Details
• Contents