-probability/high-impact risks, like floods, and whether past flood insurance purchases and flooding experience moderate the effect of defaults. Our … study uses a naturally occurring difference in experience, comparing the surveyed flood insurance choices of 1 …,187 homeowners, half of whom are in the Netherlands, where flood insurance penetration rates are low and recent flooding caused minor …

used to increase insurance coverage against low-probability/high-impact risks, like floods, and whether past flood … experience, comparing the surveyed flood insurance choices of 1,187 homeowners, half of whom are in the Netherlands, where flood … Kingdom (UK), where the opposite is true. We find defaults are effective among homeowners with little to no flood …