In the U.S., flood insurance is provided essentially through the National Flood Insurance Program (NFIP), a public-private program established in 1968. In the past 10 years, the program has radically expanded to cover $1.1 trillion in assets today. This paper provides a detailed analysis of the...

Flood insurance in the United States is offered through the federal National Flood Insurance Program (NFIP). After going deeply into debt following the 2005 hurricane season, pricing in the program has been the subject of debate and two reform bills. Private sector insurance pricing has often...

Insuring disaster risks can be challenging, due to spatial correlations and fat-tailed loss distributions. This chapter examines catastrophe insurance with a particular focus on events that alter risk assessments in the insurance industry. It addresses two questions: (1) What types of events...

This paper surveys state-mandated programs designed to provide natural catastrophe insurance to property owners and businesses unable to find a policy in the private market. The paper provides an overview of the 10 state programs offering wind or earthquake coverage and outlines the motivation...

Scholars and policymakers have argued that insurance can shape behavior in ways that mitigate climate risks, such as by providing financial incentives to property owners to safeguard their property from increasingly intense hurricanes or from the risk of sea-level rise. But natural ecosystems...