Nos derniers articles

This article argues that the United States experiences the highest per-capita flood losses among industrialized nations and attributes this to federal flood risk governance that has resisted adaptive reforms seen elsewhere. It presents a multi-criteria framework to assess governance quality and compares the National Flood Insurance Program with systems in other countries. Based on qualitative analysis of legal and policy documents, the study assigns a low adaptive governance score (1.9/5). It identifies key institutional barriers and highlights missing policy revision cycles and long-term planning. The paper proposes reform principles and situates findings within debates on climate resilience and governance.

This paper analyzes UK home insurance data (2009–2024) to examine how premiums and coverage adjust to flood risk. It reports that properties experiencing a nearby flood are significantly more likely to have flood coverage excluded the following year. The study finds that, before a government–industry risk-sharing scheme, higher-risk properties faced higher premiums and substantially greater exclusion rates than lower-risk ones. After the scheme’s introduction, premium differences decreased, but higher-risk properties continued to experience notably higher rates of flood coverage exclusion.

The lack of risk transfer stems from structural forces that deter innovation in insurance policies, leading to inefficient risk management and hindering market development. Policy responses can help address these issues.

The paper explores Pareto optimality in decentralized peer-to-peer risk-sharing markets using robust distortion risk measures. It characterizes optimal risk allocations, influenced by agents' tail risk assessments. Using flood risk insurance as an example, the study compares decentralized and centralized market structures, highlighting benefits and drawbacks of decentralized insurance.

“We determined that vulnerable residents who are at high risk for flood hazards with low financial resiliency most need flood insurance but are least likely to own it. In addition, residents who voluntarily own flood insurance are most influenced by the cost of coverage and do not generally apply perceptions of coastal hazard risk when making decisions to purchase flood insurance.”