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

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Abstract

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.

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Funding

This research was funded by Philosophy and Social Science Foundation of China, grant No.20BJY265.

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Authors and Affiliations

  1. School of Economics and Management, Institute of Disaster Prevention, Bei**g, 101601, China

    Ruiting Sun & Qinglu Yuan

  2. Yuncheng, China

    Ruiting Sun

  3. **nyang, China

    Qinglu Yuan

Authors
  1. Ruiting Sun
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  2. Qinglu Yuan
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Contributions

All authors contributed to the study conception and design. Conceptualization, Qinglu Yuan and Ruiting Sun; methodology, Qinglu Yuan and Ruiting Sun; validation, Ruiting Sun; formal analysis, Qinglu Yuan and Ruiting Sun; data curation, Ruiting Sun; writing—original draft preparation, Ruiting Sun; writing—review and editing, Qinglu Yuan All authors have read and agreed to the published version of the manuscript. All authors read and approved the final manuscript.

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Correspondence to Qinglu Yuan.

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Sun, R., Yuan, Q. Earthquake disaster insurance literacy and earthquake insurance purchasing behavior: based on the mediating effect of risk preference. Nat Hazards (2024). https://doi.org/10.1007/s11069-024-06647-5

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