Improving Disaster Financing

In November 2016, Resources for the Future and the Wharton Risk Management and Decision Processes Center brought together researchers, policymakers, and private sector experts for critical conversations about the role of government in disaster insurance markets. At the workshop, “Improving Disaster Financing: Evaluating Policy Interventions in Disaster Insurance Markets,” the SOA sponsored new papers presented by world-renowned scholars on six governmental disaster insurance programs:

  • The National Flood Insurance Program
  • The California Earthquake Authority
  • Florida’s Public Wind Pools
  • Terrorism Risk Insurance Program
  • Flood Re in the United Kingdom
  • A Potential All-hazards Homeowners Policy

Participants discussed the ideal roles of the public and private sectors in disaster risk financing and evaluated each program against a range of topic areas, such as incentives for risk reduction, take-up rates, how costs are distributed, and the influence on the private market. Papers on the individual disaster insurance programs follow below. 

Papers by Disaster Insurance Program

National Flood Insurance Program

Carolyn Kousky

Florida’s Public Wind Pools

Lorilee A. Medders and Jack E. Nicholson

California Earthquake Authority

Daniel Marshall

Terrorism Risk Insurance Program

Erwann Michel-Kerjan and Howard Kunreuther

Flood Re (United Kingdom)

Swenja Surminski

All-Hazards Homeowners Policies

Howard Kunreuther