Publication: Alternatif finansman aracı olarak afet tahvilleri
Abstract
Doğal afetlerin ekonomik sonuçları ile yüzleşen sigorta sektörü ve devlet, büyük çaplı hasar ödenmeleri için kaynak sağlamak zorundadır. Sigorta sektörü, geniş çaplı bir afet sonrası yükümlülüklerini yerine getirmek adına bütün kaynaklarını kullanabilmekte, bu durum kimi zaman, şirketlerin iflasına da neden olabilmektedir. Sigorta sektörünün karşılayamadığı hasarlar ise devlet tarafından üstlenilmekte ve mali olarak yük oluşturmaktadır.Çalışmamızda, doğal afet finansmanı için kullanılabilecek araçlar incelenmiş olup, geleneksel araçlardan ziyade, alternatif araçların afet finansmanı konusunda sigorta sektörü ve devletlere olan yararları ele alınmıştır. Alternatif araçlardan özellikle Afet Tahvillerinin, Türk sigorta ve sermaye piyasaları için hangi koşullarda uygun bir finansman aracı olabileceği hakkında değerlendirmelerde bulunulmuştur.Elde edilen bilgiler ışığında, afet tahvillerin Türkiye’de piyasasının oluşabilmesi için gerekli olacak yasal düzenlemeler ve teşvikler hakkında önerilerde bulunulmuştur. Ayrıca afet tahvilleri ile finanse edilebilecek, Türkiye’ye özgü riskler için de örnek sunulmuştur.
The insurance sector and states that face the economic consequences of natural disasters have to provide resources for large-scale damage payments. The insurance sector can use all its resources in order to fulfill its obligations after a large-scale disaster, which may sometimes lead to bankruptcy of companies. Damages that the insurance sector cannot afford are undertaken by the state and constitute a financial burden.In our study, the tools that can be used for natural disaster financing are examined and the benefits of alternative instruments to the insurance sector and states are discussed rather than traditional tools. There have been some evaluations about the alternative financial instruments such as Disaster Bonds, which can be an appropriate financing instrument for Turkish insurance and capital markets.According to information obtained, a catastrophe bond market in Turkey will be required for the formation suggestions were made about the legal regulations and incentives. Also be funded with disaster bonds, examples were presented for the risks specific to Turkey.
The insurance sector and states that face the economic consequences of natural disasters have to provide resources for large-scale damage payments. The insurance sector can use all its resources in order to fulfill its obligations after a large-scale disaster, which may sometimes lead to bankruptcy of companies. Damages that the insurance sector cannot afford are undertaken by the state and constitute a financial burden.In our study, the tools that can be used for natural disaster financing are examined and the benefits of alternative instruments to the insurance sector and states are discussed rather than traditional tools. There have been some evaluations about the alternative financial instruments such as Disaster Bonds, which can be an appropriate financing instrument for Turkish insurance and capital markets.According to information obtained, a catastrophe bond market in Turkey will be required for the formation suggestions were made about the legal regulations and incentives. Also be funded with disaster bonds, examples were presented for the risks specific to Turkey.