As climate risk escalates, property insurance is critical to reduce the risk exposure of households and firms and to … information about disaster risk and set prices that accurately reflect the costs of insuring this risk. We use proprietary data on … parcel-level wildfire risk, together with insurance premiums derived from insurers' regulatory filings, to investigate how …

We develop a new dataset to study homeowners insurance. Our data on over 47 million observations of households …' property insurance expenditures from 2014-2023 are inferred from mortgage escrow payments. First, we find a sharp 33% increase … associated with a stronger relationship between premiums and local disaster risk: A one standard-deviation increase in disaster …

earthquake protection in Quebec and British Columbia is influenced by the default option and the structure of the insurance plan … of the following options: the current private insurance plan, a high deductible private insurance plan, and a proposed … pool rather than the current private insurance plan increases the likelihood of purchasing earthquake protection by 151 …

. Concurrently, the number and volume of flood insurance policies has been declining since 2008. Hence, households who have purchased … after a natural disaster that caused more than a billion dollar in damages. Results suggest a substantial increase in … securitization activity in years following such a billion-dollar disaster. Such increase is larger in neighborhoods for which such a …

This paper proposes long-term insurance (LTI) as an alternative to the standard annual homeowners policy using lessons …

The first section of the paper addresses the first question by outlining two principles on which a disaster insurance … question and delineates the opportunities and challenges of a comprehensive disaster insurance program. Section 5 poses a set … of open issues that are currently being addressed by a research project on disaster insurance undertaken by the Wharton …

This paper examines the optimal design of insurance and reinsurance policies. We first consider reinsurance for … threaten the solvency of re- insurance such as a major earthquake, while others derive from common risks-changes in conditions …. Premium risk emerges as an important part of risk, which reinsurance and primary insurance markets do not adequately diversify." …

This study examines the effect of experience and knowledge on weather insurance adoption. First, we conduct insurance … games with farmers, and find that the treatment improves real insurance take-up by 46%. The effect is not driven by changes … in risk attitudes and perceived probability of disasters, or by learning of insurance benefits, but is driven by the …

use CAT bonds for insurance only if the cost of issuing these bonds were significantly smaller than it is in the data. The … welfare gains from CAT bonds range from small to substantial depending on how insurance affects the country's external …