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KMID : 1024520140230020171
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Journal of the Environmental Sciences
2014 Volume.23 No. 2 p.171 ~ p.180
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Analyzing the Customers' Intentions of Purchasing Weather Index Insurance
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Park Ki-Jun
Hwang Jin-Tae
Cho Jae-Rin
Kim Baek-Jo
Kim In-Gyum
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Abstract
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This study provides the empirical results of the customers' necessity and intentions of purchasing weather index insurance using survey of asking the customers' recognition about weather insurance. In this article, we discovered that not only the customers' past experience of loss but also the extent of damage and the effects that change in weather would have on their firm are positively related to an intention to purchase weather index insurance. In addition, the level of premiums was significantly higher for the highly-intended group of willing to purchase weather index insurance than the comparison group.
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KEYWORD
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Weather risk, Weather index insurance, Ordered logit analysis
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