Come Rain or Shine: Evidence on Flood Insurance Purchases in Florida

Erwann O. Michel‐Kerjan and Carolyn Kousky
Authors registered in the RePEc Author Service: Erwann Michel-Kerjan

Journal of Risk & Insurance, 2010, vol. 77, issue 2, 369-397

Abstract: This article provides a detailed analysis of the operation of the National Flood Insurance Program (NFIP) in Florida, which accounts for 40 percent of the NFIP portfolio. We study the demand for flood insurance with a data set of more than 7.5 million NFIP policies‐in‐force (the largest ever studied) for the years 2000–2005, as well as all NFIP claims filed in Florida. We answer four questions: What are the characteristics of the buyers of flood insurance? What types of contracts (deductibles and coverage levels) are purchased? What are the determinants of claims payments? How are prices determined and how much does NFIP insurance cost?

Date: 2010
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Citations: View citations in EconPapers (98)

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https://doi.org/10.1111/j.1539-6975.2009.01349.x

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Working Paper: Come Rain or Shine: Evidence on Flood Insurance Purchases in Florida (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jrinsu:v:77:y:2010:i:2:p:369-397

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