• Journal of Environmental Policy
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• v.10 no.1
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• pp.151-173
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• 2011

Whenever several natural disasters hit Korea with huge damage of property loss and death toll, government spends huge sums of money for rehabilitation of devastated areas every year. It's time to discuss about a natural disaster insurance, which is a long-term as well as precautionary measure. It is advisable to discuss government involvement through the natural disaster insurance, implementation of countermeasures against natural disasters. The natural disasters insurance have to executed as follows, 1) introducing natural disaster insurance with characteristics of social welfare, which makes fast recovery and anxiety reduction in the low-income bracket. 2) advisable to mix the methods of microinsurance including the natural disaster and index insurance.