2.2.9 Principles of Social Justice
O’Neill and O’Neill in their recent report Social Justice and the Future of Insurance (2012) distinguish
two contrasting normative approaches based on principles of justice. They identify two extremes of flood
insurance. At one end of the spectrum, they find individualist, risk-sensitive insurance. In this system,
flood insurance is provided through a free market in which individuals’ payments are in proportion to the
level of risk they are exposed to. At the other end of the spectrum, they identify solidaristic, risk-
insensitive insurance. In these systems, those at lower risk subsidise those at higher risk of flooding.
They find individualistic, market-based approaches, such as the one in the UK, to be socially undesirable
in contrast to more solidaristic systems found in most other European countries.
Bạn đang xem 2. - LET THE MARKETS IN! A QUESTION OF PRIVATE FLOOD INSURANCE IN THE NETHERLANDS?
