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Community-level flood mitigation effects on household-level flood insurance and damage claims payments

Eugene Frimpong (), Daniel Petrolia () and Ardian Harri

No 254075, Working Papers from Mississippi State University, Department of Agricultural Economics

Abstract: The Community Rating System (CRS) was introduced to encourage community-level flood mitigation and increase household-level National Flood Insurance Program (NFIP) participation. It is not clear, however, if and to what extent community participation in the CRS increases household participation in the NFIP and decreases damage claims payments. We employ genetic matching methods and estimate fixed-effects and Mundlak-style panel regression models that control for key geospatial, socioeconomic, and time effects to isolate the CRS treatment effect on these outcomes. Results show a positive and significant effect of CRS participation on NFIP participation, whereas significant effects on damage claims payments are limited.

Keywords: Consumer/Household Economics; Environmental Economics and Policy; Land Economics/Use; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 47
Date: 2017-03
New Economics Papers: this item is included in nep-ias
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DOI: 10.22004/ag.econ.254075

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