What does this research mean for the field?

Unintentional man-made disasters reduce individuals' willingness to take risks and lower their demand for high-return-oriented insurance products by eroding political trust in local government officials. Novelty: ClaimNovelty.NOVEL_FINDING. Consensus alignment: ConsensusAlignment.ESTABLISHES_NEW_DIRECTION.

What question did this study set out to answer?

To examine how unintentional man-made catastrophes affect household risk preferences, political trust, and demand for different insurance products.

August 22, 2026Journal of Risk & Insurance

Unintentional man‐made disasters, risk preferences, and insurance demand

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Authors

ZCZe Chen MFMinghao Fang JQJiaping Qiu

Discussion

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Overview

Longitudinal study reveals unintentional man-made disasters reduce risk-taking and investment insurance demand in households, highlighting political trust erosion as a key mechanism.

Key Points

To examine how unintentional man-made catastrophes affect household risk preferences, political trust, and demand for different insurance products.
Linked a dataset of extremely severe accidents (ESAs) in China with a nationally representative longitudinal household survey.
Assessed shifts in individual risk tolerance, political versus social trust, and purchasing behaviors for investment-oriented versus protection-oriented insurance.
Exposure to unintentional man-made disasters significantly lowered individuals' willingness to take risks.
Disaster events eroded political trust in local government officials without altering broader social trust.
Demand for high-return-oriented insurance products declined, whereas demand for protection-oriented health insurance remained unchanged.

Cite This Study

Chen et al. (2026) studied this question.

synapsesocial.com/papers/6a895eaeca7ade938187cceb https://doi.org/10.1111/jori.70071

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August 22, 2026Journal of Risk & Insurance

Unintentional man‐made disasters, risk preferences, and insurance demand

View Full Paper

Ask AI

Bookmark

Authors

ZCZe Chen MFMinghao Fang JQJiaping Qiu

Discussion

Member takes

Overview

Longitudinal study reveals unintentional man-made disasters reduce risk-taking and investment insurance demand in households, highlighting political trust erosion as a key mechanism.

Key Points

To examine how unintentional man-made catastrophes affect household risk preferences, political trust, and demand for different insurance products.
Linked a dataset of extremely severe accidents (ESAs) in China with a nationally representative longitudinal household survey.
Assessed shifts in individual risk tolerance, political versus social trust, and purchasing behaviors for investment-oriented versus protection-oriented insurance.
Exposure to unintentional man-made disasters significantly lowered individuals' willingness to take risks.
Disaster events eroded political trust in local government officials without altering broader social trust.
Demand for high-return-oriented insurance products declined, whereas demand for protection-oriented health insurance remained unchanged.

Cite This Study

Chen et al. (2026) studied this question.

synapsesocial.com/papers/6a895eaeca7ade938187cceb https://doi.org/10.1111/jori.70071

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