Earthquake risk and insurance in the banking system
Keywords:
banking sector, earthquakes, critical infrastructure, risk management, insuranceAbstract
Although today there are sophisticated instruments for measuring the intensity of an earthquake and its effects, there are no devices that allow predicting in advance its place and time of manifestation. It is known that, among natural disasters, earthquakes are the most destructive and deadly, causing the greatest material damage. Modern society depends on a large number of infrastructures, without which daily functioning is unthinkable, which makes earthquake risks particularly significant in the context of business continuity and recovery after a disaster. Developed countries have defined their critical infrastructure sectors, including the banking sector, which serves as the carrier of payment transactions, savings, and financial stability. There is no doubt that the functioning of society is not possible without the continuity of bank operations in the event of an earthquake, as the interruption of their services can cause domino effects on the economy, public services, and citizens. In this sense, assessing the vulnerability of banking infrastructure (facilities, ICT systems, data, and human resources), as well as the degree of readiness for response and recovery, is an important segment of risk management. Risk and insurance issues, as well as an analysis of the vulnerability of the banking sector of the Republic of Serbia in the event of an earthquake, are addressed in this paper, along with a consideration of prevention measures, mitigation of consequences, and improvement of resilience in accordance with the principles of emergency management and critical infrastructure protection.
Downloads
References
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Marijana Maslak, Dejana Jovanović Popović (Author)
This work is licensed under a Creative Commons Attribution 4.0 International License.
By submitting a manuscript to the Scientific and Professional Conference ‘‘Predrag Marić‘‘, Faculty of Security Studies, University of Belgrade, authors acknowledge and agree to the following copyright terms and conditions:
-
Author Rights and Ownership
- Authors retain the copyright to their submitted work. However, by submitting their manuscript, authors grant the Scientific and Professional Conference ‘‘Predrag Marić‘‘, Faculty of Security Studies, University of Belgrade a non-exclusive right to publish, distribute, and archive the work in any format (print, digital, or electronic).
- Authors are free to share, reproduce, and distribute their published work, provided proper credit is given to the original publication in this journal.
-
Licensing and Open Access Policy
- The journal publishes under the [insert applicable license, e.g., Creative Commons Attribution License (CC BY)], which allows others to share and adapt the work with appropriate attribution.
- Authors are responsible for ensuring that their submission complies with the journal's licensing terms and does not violate any third-party rights.
-
Originality and Permissions
- The submitted work must be original and not previously published or under consideration elsewhere.
- If the manuscript includes copyrighted materials (e.g., figures, tables, excerpts), authors must obtain the necessary permissions for reproduction and provide appropriate attribution.
-
Author Warranties
- By submitting, authors confirm that their work does not infringe on any intellectual property rights, is free from plagiarism, and adheres to ethical publishing standards.
- The journal is not responsible for any legal disputes arising from copyright infringement, misrepresentation, or unauthorized use of third-party materials.
-
Editorial and Publication Rights
- Scientific and Professional Conference ‘‘Predrag Marić‘‘, Faculty of Security Studies, University of Belgrade reserves the right to make editorial modifications to ensure clarity, consistency, and compliance with journal standards.
- If accepted, the manuscript will be published online and made publicly available according to the journal’s open-access policy.
By proceeding with submission, authors confirm that they have read and agreed to the terms outlined in this Copyright Notice.
