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Flood Insurance in the US
| Michael McShane Finance Department, Old Dominion University, Norfolk, VA, USA |
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This presentation will describe flood insurance program in the USA and categorize the program along the following dimensions, which will allow comparison to flood insurance programs in other countries.
- Public/Private?
- Insurance linked to resilience / floodplain management at community level?
- Insurance linked to resilience at individual level?
- Statutory/Voluntary?
- Penetration rate?
- Insurance coverage: Bundled/Flood Coverage Separate?
- Flood insurance subsidized / actuarially sound rates?
- Flood insurance required for mortgage?
- Related to disaster assistance?
- Regulation?
The three presentations of this panel will cover how flood insurance is handled in US, UK, and the Netherlands to make the audience aware of different possibilities for handling flood insurance. The presentations will provide a basic foundation for subsequent group discussions to consider the related questions.