Dr. Swenja Surminski:

The best is always a tricky question. In terms of the models that exist, in Spain there is an insurance pool that covers natural disasters and terrorism, and that is state-backed. France has something similar. It is almost like an insurance tax in that everybody who pays insurance pays an extra tax that funds the "Cat Nat" pool, as it is called. Switzerland has a state-owned monopoly insurance body that handles natural disasters and risk. In terms of balancing risk and risk management, the Swiss model seems to be doing quite well. It is difficult to come up with a best system.