Earthquake disaster insurance literacy and earthquake insurance purchasing behavior: based on the mediating effect of risk preference.

Sun, Ruiting; Yuan, Qinglu

This paper uses the survey data of "Earthquake disaster insurance literacy of Chinese residents" to construct the earthquake disaster insurance literacy index system, and analyzes the mechanism of the influence of earthquake disaster insurance literacy level on residents' earthquake insurance purchasing behavior from the perspective of risk preference. Empirical study shows that the earthquake disaster insurance literacy level of residents can significantly promote their earth-quake insurance purchasing behavior. Further analysis reveals that within the impact of earth-quake disaster insurance literacy on earthquake insurance purchasing behavior, the risk preference of financial investment products plays a positive intermediary role, but the mediating effect is not as large as the direct effect. Therefore, as a critical influencing factor of earthquake insurance purchasing behavior, it becomes crucial and urgent to improve earthquake disaster insurance literacy. We will improve residents' earthquake disaster insurance literacy through multiple channels, focusing on the mediating effect of risk preference. This also provides certain policy references for government authorities and insurance institutions to formulate relevant policies and effectively promote earthquake insurance products.

EARTHQUAKE insurance; DISASTER insurance; CONSUMER behavior; GOVERNMENT insurance; INTERMEDIATION (Finance); HEALTH literacy

Natural Hazards, 2024, Vol 120, Issue 12, p10949

0921-030X

Academic Journal

10.1007/s11069-024-06647-5