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The Future of Flood Insurance
Thursday, 26 April 2018, 2:30
Thursday, April 26, 2018. 2:30PM. The Future of Flood Insurance. Carolyn Kousky, University of Pennsylvania. Sponsored by The Coastal Climate Risk & Resilience Initiative, Rutgers Climate Institute, and Institute of Earth, Ocean & Atmospheric Sciences. More information pdf here. (1.42 MB)
Flood insurance has been provided by the federal government for the last fifty years. That program, however, has long been torn between competing objectives and different visions. The program is billions of dollars in debt and continually plagued by criticisms ranging from poor customer experience to problematic risk communication to insurance premiums that have been called both too high and too low. Recently, a very small private flood insurance has been emerging, but it remains only about 2% of the market. In addition, multiple recent floods have demonstrated the large flood insurance gap in the United States and the implications for post-disaster recovery. This talk will explore the future of the flood insurance in the US, including the roles of the public and private sector, the challenges of affordable disaster coverage, how to effectively manage exposure, and how flood insurance fits into the overall disaster risk financing in the country.
Location Alampi Room, Marine and Coastal Sciences Building, 71 Dudley Rd, Cook Campus, New Brunswick, NJ.