Ziel der Arbeit ist - ausgehend vom Kreditrisikotransfers von internationalen Konsortialkrediten - die Darstellung der Kalkulation barwertiger Kreditrisikoprämien unter Integration von Adressenausfall- und Residualrisiken. Zentrale Aspekte sind die Identifizierung, Bewertung und Integration von Residualrisiken. Residualrisiken entstehen im Spannungsfeld des Risikotransfers zwischen Kreditgeber (=Risikogeber) und Risikonehmer. Das Adressenausfallrisiko ist der Kernbestandteil des integrierten Kalkulationsmodells. Basierend auf dem versicherungstechnischen Modell zur Kalkulation des Adressenausfallrisikos werden die Bestandteile erwarteter und unerwarteter Verlust berücksichtigt. Das integrierte Kalkulationsmodell hat die Nachhaltigkeit des Risikotransfers als Nebenbedingung. Die faire Risikoprämie, die als Summe aus erwartetem Verlust, unerwartetem Verlust und auf den Risikonehmer entfallenden Residualrisiken berechnet wird, muss der Risikogeber aus der „all-in“ Marge des Konsortialkredites bedienen.

Climate change and increasing water demands prioritize the need to implement planning strategies for urban water security in the long and medium term. However, risk planning requires robust and timely financial support during and after the disaster. Therefore, risk transfer tools, such as insurance, have emerged as an effective strategy to ensure financial resilience and as an element that could encourage the implementation of hydrological risk reduction mechanisms. Among the main insurance design problems are the lack of information on the real drought impacts and climate uncertainty, which may incur adverse selection and/or moral hazards among the most common drawbacks in insurance practice. Currently, most of the income from water utility companies is based on water resources management, therefore during prolonged drought periods these economies can be strongly affected, despite having robust storage schemes as support. Thus, this thesis proposes an insurance plan for the water utility company of the State of Sao Paulo (SABESP) to deal with revenue reductions during long drought periods. The methodology is implemented on the MTRH-SHS model, developed under ex-ante damage cost calculation through the risk-based approach. The synthetic (\'what-if\') approach uses a \"set of change drivers\" to estimate the optimal premium through a multiyear insurance contract (MYI). The methodology integrates the hydrological simulation procedures under radiative climate forcing scenarios RCP 4.5 and 8.5, from the regional climate model outputs Eta-HadGEM and Eta-MIROC5, with time horizons of 2007-2040, 2041-2070, and 2071-2099, linked to the Water Evaluation and Planning system (WEAP) hydrologic model and under stationary and non-stationary water supply demand assumptions. The model framework is applied to the Cantareira Water Supply System for the Sao Paulo Metropolitan Region, Brazil, with severe vulnerability to droughts. As a result, the evaluated indexes showed that multi-year contracts with drought coverage higher than 240 days offer better financial performance than contracts with wider coverages. Moreover, this MYI adopted in the installed storage residual risk generates both a higher level of solvency for the insurance fund in the long term and annual average premiums closer to the expected revenue reductions by scenario. Finally, the approach can help the systematic evaluation of moral hazards and adverse selection. In the first case, the progressive evaluation must generate useful information to change or maintain the behavior of both the insured and insurers considering future risks related to climate change. In the second case, the multi-scenario valuation can help the insurer to set price thresholds, offering risk differential cover options in the premium value. / As mudanças climáticas e o incremento na demanda de água priorizam a necessidade de implementar estratégias de planejamento para a segurança hídrica urbana no longo e mediano prazo. No entanto, o planejamento dos riscos exige um suporte financeiro robusto e oportuno durante e após do desastre. Portanto, as ferramentas de transferência de risco, como os seguros, emergem como uma estratégia efetiva para garantir a resiliência financeira e como um elemento que poderia incentivar a implementação de mecanismos de redução do risco hidrológico. Entre os principais problemas no planejamento de seguros, estão a falta de informações sobre os impactos reais das secas e a incerteza climática, que podem levar a seleção adversa e/ou perigo moral como as problemáticas mais comuns na prática dos seguros. Atualmente, a maior parte da renda das empresas de serviços de água é baseada na gestão do recurso hídrico; portanto, durante períodos prolongados de seca, essas economias podem ser fortemente afetadas, apesar de ter sistemas de armazenamento robustos como suporte. Assim, esta tese propõe um plano de seguro para a empresa de serviços de água do Estado de São Paulo (SABESP), para enfrentar as reduções de receita durante longos períodos de seca. A metodologia é implementada no modelo MTRH-SHS, desenvolvido no cálculo \"ex-ante\" de custos de dano, através da abordagem baseada em risco. A abordagem sintética (\"what-if\"), usa um \"conjunto de drivers de mudança\" para estimar o prêmio ótimo através de um contrato de seguro plurianual (SPA). A metodologia integra os procedimentos de simulação hidrológica, sob cenários de forçamento climático radiativo RCP 4.5 e 8.5, do modelo de clima regional Eta-HadGEM e Eta-MIROC5, com horizontes temporais de 2007-2040, 2041-2070 e 2071-2099, vinculados ao modelo hidrológico do sistema de avaliação e planejamento da água (WEAP) e sob pressupostos de demanda como abastecimento de água estacionária e não estacionária. A estrutura do modelo é aplicada ao Sistema de Abastecimento de Água de Cantareira na Região Metropolitana de São Paulo, Brasil, região com alta vulnerabilidade às secas. Como resultado, os índices de rendimento do seguro avaliados mostraram que os contratos plurianuais com cobertura para secas superiores a 240 dias, oferecem melhor desempenho financeiro do que os contratos com coberturas mais amplas. Além, o SPA adotado para o risco residual do armazenamento instalado, gera um nível mais alto de solvência para o fundo de seguros no longo prazo com prêmios médios anuais mais próximos das reduções de receita esperadas por cenário. Finalmente, a abordagem pode ajudar na avaliação sistemática do risco moral e na seleção adversa. No primeiro caso, a avaliação progressiva deve gerar informações úteis para mudar ou manter o comportamento de segurados e seguradoras considerando riscos futuros relacionados à mudança climática. No segundo caso, a valoração de múltiplos cenários pode ajudar a estabelecer limiares de preços, oferecendo opções de cobertura diferencial de risco no valor prêmio de seguro.

Esta pesquisa é parte do projeto FAPESP-IAV \"Assessment of Impacts and Vulnerability to Climate Change in Brazil and Strategies for Adaptation Options\". Avaliou-se a acoplagem entre o modelo climático regional Eta-CPTEC, o modelo hidrológico de grandes bacias MGB-IPH e o modelo de transferências de riscos hidrológicos MTRH-SHS como estratégia de adaptação à escassez hídrica em regimes fluviométricos sob mudanças de longo prazo. A metodologia foi aplicada em postos de monitoramento fluviométrico cujas áreas de drenagem variaram entre 386,6 e 10.929,9 \'KM POT.2\', pertencentes à bacia hidrográfica do Rio Piracicaba, com área total de 12.589 \'KM POT.2\'. Buscou-se avaliar a aptidão do MGB-IPH em representar as vazões mínimas médias anuais de sete dias consecutivos, Q7mín. A calibração e a validação do MGB-IPH corresponderam ao período 1971-1990. Com o MGB-IPH calibrado e validado, foram acoplados dados climáticos diários de saída do Eta-CPTEC, referentes ao período 2013-2099. Foram obtidas séries de Q7mín anuais que representaram a vulnerabilidade de escassez hídrica referentes a quatro cenários de mudanças globais para o período 2013-2099. Um quinto cenário, sem mudanças, foi proposto como a manutenção de características de Q7mín anuais observados. Foram gerados cenários para cinco sub-bacias, com áreas de 927,1 a 10.929,9 \'KM POT.2\'. Procedeu-se à análise de riscos, associando os prejuízos econômicos dos impactos decorrentes das vazões mínimas anuais nos cinco cenários propostos. Para o MTRH-SHS selecionaram-se a série de mínimos anuais, Q7mín-ano, em cada cenário, associado a um prejuízo distribuído pela área da bacia. Para o ressarcimento dos prejuízos, otimizou-se o prêmio a ser pago pela aplicação do MTRH-SHS sob diferentes limites de cobertura do fundo de seguros, curvas de danos regionais e para tempos de retorno de 10 até 100 anos. Os resultados demonstraram diferentes impactos das mudanças globais conforme cada cenário. A variação climática resultou em impacto de +24,8% na Q7mín média futura. Por sua vez, a expansão da urbanização dos municípios da bacia representou impacto de +0,2% na variação da Q7mín. A operação do Sistema Cantareira, que atua nas cabeceiras, potencialmente interfere em -14,6% da disponibilidade hídrica da bacia. As combinações de mudanças dos cenários resultaram em prejuízos e prêmios de acordo com a cobertura selecionada. Os prejuízos foram de 9,5 a 1.437 R$/\'KM POT.2\' e os prêmios otimizados para ressarcir esses prejuízos situaram-se entre 9,9 e 1.479 R$/\'KM POT.2\'. Concluiu-se sobre a viabilidade da estratégia de acoplagem entre os modelos como alternativa de adaptação para o planejamento estratégico na recuperação de bacias hidrográficas vulneráveis a eventos extremos de escassez hídrica. / This research is part of the project FAPESP-IAV \"Assessment of Impacts and Vulnerability to Climate Change in Brazil and Strategies for Adaptation Options\". It was evaluated the coupling among the regional climate model Eta-CPTEC, the hydrological model for large basins MGB-IPH and the hydrologic risks transfer model MTRH-SHS as an adaptation strategy to cope with water scarcity in flow regimes under long-term changes. The methodology was applied to fluviometric monitoring stations whose drainage areas varied between 386.6 and 10,929.9 \'KM POT.2\', belonging to the Piracicaba River basin with total area of 12.589 \'KM POT.2\'. The focus was on improving the performance of the MGB-IPH in representing the average of the annual seven day minimum flows, Q7mín. The calibration and validation of the MGB-IPH corresponded to the period 1971-1990. With the MGB-IPH calibrated and validated, the Eta-CPTEC output daily climate data were coupled, related to the 2013-2099 period. It was obtained sets of annual Q7mín that represented the vulnerability to water scarcity related to four scenarios of global change for the 2013-1099 period. A fifth scenario, without changes, was proposed as the maintenance of the characteristics of annual Q7mín observed. Scenarios were generated for five sub-basins with areas ranging from 927.1 to 10,929.9 \'KM POT.2\'. The risk analysis was done, relating the impacts of economic losses due to the occurrence of the annual minimum flows over the five proposed scenarios. To the MTRH-SHS a set of annual minima (Q7mín-year) was selected in each scenario, associated to the losses distributed along the watershed area. For the losses compensation, the premium to be paid was optimized through the implementation of the insurance fund, under different coverage limits and regional damage curves, for return periods from 10 to 100 years. The results showed different impacts of global changes in each scenario. The climate change resulted in an impact of +24.8% on the Q7mín future average. In turn, the expansion of urbanization of the watershed municipalities represented an impact of +0.2% on the variation of the Q7mín. The operation of the Cantareira System, which operates in the headwaters, potentially interferes with -14.6% on the water availability in the basin. The combinations of the scenarios of changes resulted in losses and premiums depending on the coverage selected. The damages ranged from 9.5 to 1.437 R$/\'KM POT.2\' while the optimized premiums to compensate these losses varied between 9.9 and 1479 R$/\'KM POT.2\'. It was concluded that is feasible this strategy of model coupling as an adaptation alternative to strategic planning in the recovery of watersheds vulnerable to extreme water shortage.

Esta pesquisa é parte do projeto FAPESP-IAV \"Assessment of Impacts and Vulnerability to Climate Change in Brazil and Strategies for Adaptation Options\". Avaliou-se a acoplagem entre o modelo climático regional Eta-CPTEC, o modelo hidrológico de grandes bacias MGB-IPH e o modelo de transferências de riscos hidrológicos MTRH-SHS como estratégia de adaptação à escassez hídrica em regimes fluviométricos sob mudanças de longo prazo. A metodologia foi aplicada em postos de monitoramento fluviométrico cujas áreas de drenagem variaram entre 386,6 e 10.929,9 \'KM POT.2\', pertencentes à bacia hidrográfica do Rio Piracicaba, com área total de 12.589 \'KM POT.2\'. Buscou-se avaliar a aptidão do MGB-IPH em representar as vazões mínimas médias anuais de sete dias consecutivos, Q7mín. A calibração e a validação do MGB-IPH corresponderam ao período 1971-1990. Com o MGB-IPH calibrado e validado, foram acoplados dados climáticos diários de saída do Eta-CPTEC, referentes ao período 2013-2099. Foram obtidas séries de Q7mín anuais que representaram a vulnerabilidade de escassez hídrica referentes a quatro cenários de mudanças globais para o período 2013-2099. Um quinto cenário, sem mudanças, foi proposto como a manutenção de características de Q7mín anuais observados. Foram gerados cenários para cinco sub-bacias, com áreas de 927,1 a 10.929,9 \'KM POT.2\'. Procedeu-se à análise de riscos, associando os prejuízos econômicos dos impactos decorrentes das vazões mínimas anuais nos cinco cenários propostos. Para o MTRH-SHS selecionaram-se a série de mínimos anuais, Q7mín-ano, em cada cenário, associado a um prejuízo distribuído pela área da bacia. Para o ressarcimento dos prejuízos, otimizou-se o prêmio a ser pago pela aplicação do MTRH-SHS sob diferentes limites de cobertura do fundo de seguros, curvas de danos regionais e para tempos de retorno de 10 até 100 anos. Os resultados demonstraram diferentes impactos das mudanças globais conforme cada cenário. A variação climática resultou em impacto de +24,8% na Q7mín média futura. Por sua vez, a expansão da urbanização dos municípios da bacia representou impacto de +0,2% na variação da Q7mín. A operação do Sistema Cantareira, que atua nas cabeceiras, potencialmente interfere em -14,6% da disponibilidade hídrica da bacia. As combinações de mudanças dos cenários resultaram em prejuízos e prêmios de acordo com a cobertura selecionada. Os prejuízos foram de 9,5 a 1.437 R$/\'KM POT.2\' e os prêmios otimizados para ressarcir esses prejuízos situaram-se entre 9,9 e 1.479 R$/\'KM POT.2\'. Concluiu-se sobre a viabilidade da estratégia de acoplagem entre os modelos como alternativa de adaptação para o planejamento estratégico na recuperação de bacias hidrográficas vulneráveis a eventos extremos de escassez hídrica. / This research is part of the project FAPESP-IAV \"Assessment of Impacts and Vulnerability to Climate Change in Brazil and Strategies for Adaptation Options\". It was evaluated the coupling among the regional climate model Eta-CPTEC, the hydrological model for large basins MGB-IPH and the hydrologic risks transfer model MTRH-SHS as an adaptation strategy to cope with water scarcity in flow regimes under long-term changes. The methodology was applied to fluviometric monitoring stations whose drainage areas varied between 386.6 and 10,929.9 \'KM POT.2\', belonging to the Piracicaba River basin with total area of 12.589 \'KM POT.2\'. The focus was on improving the performance of the MGB-IPH in representing the average of the annual seven day minimum flows, Q7mín. The calibration and validation of the MGB-IPH corresponded to the period 1971-1990. With the MGB-IPH calibrated and validated, the Eta-CPTEC output daily climate data were coupled, related to the 2013-2099 period. It was obtained sets of annual Q7mín that represented the vulnerability to water scarcity related to four scenarios of global change for the 2013-1099 period. A fifth scenario, without changes, was proposed as the maintenance of the characteristics of annual Q7mín observed. Scenarios were generated for five sub-basins with areas ranging from 927.1 to 10,929.9 \'KM POT.2\'. The risk analysis was done, relating the impacts of economic losses due to the occurrence of the annual minimum flows over the five proposed scenarios. To the MTRH-SHS a set of annual minima (Q7mín-year) was selected in each scenario, associated to the losses distributed along the watershed area. For the losses compensation, the premium to be paid was optimized through the implementation of the insurance fund, under different coverage limits and regional damage curves, for return periods from 10 to 100 years. The results showed different impacts of global changes in each scenario. The climate change resulted in an impact of +24.8% on the Q7mín future average. In turn, the expansion of urbanization of the watershed municipalities represented an impact of +0.2% on the variation of the Q7mín. The operation of the Cantareira System, which operates in the headwaters, potentially interferes with -14.6% on the water availability in the basin. The combinations of the scenarios of changes resulted in losses and premiums depending on the coverage selected. The damages ranged from 9.5 to 1.437 R$/\'KM POT.2\' while the optimized premiums to compensate these losses varied between 9.9 and 1479 R$/\'KM POT.2\'. It was concluded that is feasible this strategy of model coupling as an adaptation alternative to strategic planning in the recovery of watersheds vulnerable to extreme water shortage.

Climate change and increasing water demands prioritize the need to implement planning strategies for urban water security in the long and medium term. However, risk planning requires robust and timely financial support during and after the disaster. Therefore, risk transfer tools, such as insurance, have emerged as an effective strategy to ensure financial resilience and as an element that could encourage the implementation of hydrological risk reduction mechanisms. Among the main insurance design problems are the lack of information on the real drought impacts and climate uncertainty, which may incur adverse selection and/or moral hazards among the most common drawbacks in insurance practice. Currently, most of the income from water utility companies is based on water resources management, therefore during prolonged drought periods these economies can be strongly affected, despite having robust storage schemes as support. Thus, this thesis proposes an insurance plan for the water utility company of the State of Sao Paulo (SABESP) to deal with revenue reductions during long drought periods. The methodology is implemented on the MTRH-SHS model, developed under ex-ante damage cost calculation through the risk-based approach. The synthetic (\'what-if\') approach uses a \"set of change drivers\" to estimate the optimal premium through a multiyear insurance contract (MYI). The methodology integrates the hydrological simulation procedures under radiative climate forcing scenarios RCP 4.5 and 8.5, from the regional climate model outputs Eta-HadGEM and Eta-MIROC5, with time horizons of 2007-2040, 2041-2070, and 2071-2099, linked to the Water Evaluation and Planning system (WEAP) hydrologic model and under stationary and non-stationary water supply demand assumptions. The model framework is applied to the Cantareira Water Supply System for the Sao Paulo Metropolitan Region, Brazil, with severe vulnerability to droughts. As a result, the evaluated indexes showed that multi-year contracts with drought coverage higher than 240 days offer better financial performance than contracts with wider coverages. Moreover, this MYI adopted in the installed storage residual risk generates both a higher level of solvency for the insurance fund in the long term and annual average premiums closer to the expected revenue reductions by scenario. Finally, the approach can help the systematic evaluation of moral hazards and adverse selection. In the first case, the progressive evaluation must generate useful information to change or maintain the behavior of both the insured and insurers considering future risks related to climate change. In the second case, the multi-scenario valuation can help the insurer to set price thresholds, offering risk differential cover options in the premium value. / As mudanças climáticas e o incremento na demanda de água priorizam a necessidade de implementar estratégias de planejamento para a segurança hídrica urbana no longo e mediano prazo. No entanto, o planejamento dos riscos exige um suporte financeiro robusto e oportuno durante e após do desastre. Portanto, as ferramentas de transferência de risco, como os seguros, emergem como uma estratégia efetiva para garantir a resiliência financeira e como um elemento que poderia incentivar a implementação de mecanismos de redução do risco hidrológico. Entre os principais problemas no planejamento de seguros, estão a falta de informações sobre os impactos reais das secas e a incerteza climática, que podem levar a seleção adversa e/ou perigo moral como as problemáticas mais comuns na prática dos seguros. Atualmente, a maior parte da renda das empresas de serviços de água é baseada na gestão do recurso hídrico; portanto, durante períodos prolongados de seca, essas economias podem ser fortemente afetadas, apesar de ter sistemas de armazenamento robustos como suporte. Assim, esta tese propõe um plano de seguro para a empresa de serviços de água do Estado de São Paulo (SABESP), para enfrentar as reduções de receita durante longos períodos de seca. A metodologia é implementada no modelo MTRH-SHS, desenvolvido no cálculo \"ex-ante\" de custos de dano, através da abordagem baseada em risco. A abordagem sintética (\"what-if\"), usa um \"conjunto de drivers de mudança\" para estimar o prêmio ótimo através de um contrato de seguro plurianual (SPA). A metodologia integra os procedimentos de simulação hidrológica, sob cenários de forçamento climático radiativo RCP 4.5 e 8.5, do modelo de clima regional Eta-HadGEM e Eta-MIROC5, com horizontes temporais de 2007-2040, 2041-2070 e 2071-2099, vinculados ao modelo hidrológico do sistema de avaliação e planejamento da água (WEAP) e sob pressupostos de demanda como abastecimento de água estacionária e não estacionária. A estrutura do modelo é aplicada ao Sistema de Abastecimento de Água de Cantareira na Região Metropolitana de São Paulo, Brasil, região com alta vulnerabilidade às secas. Como resultado, os índices de rendimento do seguro avaliados mostraram que os contratos plurianuais com cobertura para secas superiores a 240 dias, oferecem melhor desempenho financeiro do que os contratos com coberturas mais amplas. Além, o SPA adotado para o risco residual do armazenamento instalado, gera um nível mais alto de solvência para o fundo de seguros no longo prazo com prêmios médios anuais mais próximos das reduções de receita esperadas por cenário. Finalmente, a abordagem pode ajudar na avaliação sistemática do risco moral e na seleção adversa. No primeiro caso, a avaliação progressiva deve gerar informações úteis para mudar ou manter o comportamento de segurados e seguradoras considerando riscos futuros relacionados à mudança climática. No segundo caso, a valoração de múltiplos cenários pode ajudar a estabelecer limiares de preços, oferecendo opções de cobertura diferencial de risco no valor prêmio de seguro.

The diploma Selected problems of the reinsurance market and their solutions shows the development of the insurance and reinsurance markets in recent years, especially in the last two decades. The diploma deals with changes in the actual situation, describes the classic forms of risk transfers, introduces alternative instruments as possible solution. The diploma also describes the principle multi financing system, which can be an effective solution in the reinsurance market.

Ziel der Arbeit ist - ausgehend vom Kreditrisikotransfers von internationalen Konsortialkrediten - die Darstellung der Kalkulation barwertiger Kreditrisikoprämien unter Integration von Adressenausfall- und Residualrisiken. Zentrale Aspekte sind die Identifizierung, Bewertung und Integration von Residualrisiken. Residualrisiken entstehen im Spannungsfeld des Risikotransfers zwischen Kreditgeber (=Risikogeber) und Risikonehmer. Das Adressenausfallrisiko ist der Kernbestandteil des integrierten Kalkulationsmodells. Basierend auf dem versicherungstechnischen Modell zur Kalkulation des Adressenausfallrisikos werden die Bestandteile erwarteter und unerwarteter Verlust berücksichtigt. Das integrierte Kalkulationsmodell hat die Nachhaltigkeit des Risikotransfers als Nebenbedingung. Die faire Risikoprämie, die als Summe aus erwartetem Verlust, unerwartetem Verlust und auf den Risikonehmer entfallenden Residualrisiken berechnet wird, muss der Risikogeber aus der „all-in“ Marge des Konsortialkredites bedienen.

Thesis shows progression of catastrophic events and their influence on insurance market. Insurance and reinsurance are connected to conception of catastrophes and therefore it is necessary that this thesis firstly presents key features and classification of notion catastrophe itself. For understanding of the notion is important to differentiate between nature and manmade disasters. Next part summarizes large-scale events in 2008, significant events in the past and disasters in Czech Republic. Catastrophic events are analyzed from various angles, but the most important one seems to be insured losses volume. The core of the thesis is concerned with explanation of the disaster trend and its consequences. Key problem of disaster insurance is connected to the question, how to cover catastrophic losses for both, individuals and insurance companies.

Public sector organisations are established in order to promote the quality of citizen's lives through the provision of public services. However, the demands for public services often outstrip the limited resources at the disposal of the public sector for the delivery of such services. Public-private partnerships (PPPs) are emerging as an important tool of public policy to deliver public infrastructure and the attendant services. The main aim of this study is to establish the extent to which PPPs can be used to improve the quality of the delivery of secondary education in the Gaborone City area in Botswana. The study includes a conceptual analysis of the nature of the public services in general, and in particular, the nature and the provision of secondary education in Botswana with specific reference to the Gaborone City area. The study also includes a conceptual analysis of PPPs as gleaned from published literature. Various dimensions of PPPs are analysed and these include but are not limited to definitions, benefits, models and the antecedents for the successful implementation of PPPs. Among the various models that are analysed in the study, the design, build, operate and finance (DBOF) model is preferred for improving the quality of the delivery of secondary education in the Gaborone City area in Botswana. In addition to the conceptual analysis, an empirical research study is undertaken in which the secondary school heads are the respondents to a structured questionnaire. The results of the empirical research support the conceptual analysis to the extent that in both cases, it is possible to improve the quality of the delivery of secondary education through PPPs. More secondary schools can be built and more facilities be made available to schools. Through the use of PPPs, most if not all learners can receive the entire secondary education programme, from junior to senior secondary education. Existing secondary schools can be modernised through PPPs. Ancillary services can be delivered by the organisations that have the necessary expertise. Certain antecedents for the successful implementation of PPPs are necessary. Through PPPs, secondary schools can be made attractive and intellectually stimulating. / Public Administration / (D.Litt. et Phil. ( Public Administration))

When society fails to effectively integrate natural and constructed environments, one of the cataclysmic byproducts of this disconnect is an increased risk of natural disasters. On top of the devastation that is the aftermath of such disasters, poor planning and engineering decisions have detrimental effects on communities as they attempt to recover and rebuild. While there is an inherent difficulty in the quantification of the cost of human life, interruption in business operations, and damage to the properties, it is critical to develop plans and mitigation strategies to promote fast recovery. Traditionally insurance and reinsurance products have been used as a mitigation strategy for financing post-disaster recovery. However, there are number of problems associated with these models such as lack of liquidity, defaults, long litigation process, etc. In light of these problems, new Alternative Risk Transfer (ART) methods are introduced. The pricing of these risk mitigating instruments, however, has been mostly associated with the hazard frequency and intensity; and little recognition is made of the riskiness of the structure to be indemnified. This study proposes valuation models for catastrophe-linked ART products and insurance contracts in which the risks and value can be linked to the characteristics of the insured portfolio of constructed assets. The results show that the supply side ? structural parameters are as important as the demand ? hazard frequency, and are in a highly nonlinear relationship with financial parameters such as risk premiums and spreads.