Managing the Risk of Natural Catastrophes: The Role and Functioning of State Insurance Programs

Carolyn Kousky

RFF Working Paper Series from Resources for the Future

Abstract: 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 for establishing such programs. The implications of design and operation decisions, such as pricing strategies and contract options, are discussed, as well as how these programs interact with the private property insurance market. Finally, the paper examines whether such programs can handle a truly catastrophic loss year and the merits and drawbacks of federal support for the programs.

Keywords: insurance; catastrophe; hurricane; earthquake; residual market mechanisms (search for similar items in EconPapers)
JEL-codes: G22 H79 Q54 (search for similar items in EconPapers)
Date: 2010-09-22
New Economics Papers: this item is included in nep-ias
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.rff.org/RFF/documents/RFF-DP-10-30.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.rff.org/RFF/documents/RFF-DP-10-30.pdf [301 Moved Permanently]--> https://www.rff.org/RFF/documents/RFF-DP-10-30.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rff:dpaper:dp-10-30

Access Statistics for this paper

More papers in RFF Working Paper Series from Resources for the Future Contact information at EDIRC.
Bibliographic data for series maintained by Resources for the Future ().