This paper surveys state-mandated programs designed to provide natural catastrophe insurance to property owners and businesses unable to find a policy in the private market. The paper provides anoverview of the 10 state programs offering wind or earthquake coverage and outlines the motivation for establishing such programs. The implications of design and operation decisions, such as pricing strategies and contract options, are discussed, as well as how these programs interact with the private property insurance market. Finally, the paper examines whether such programs can handle a truly catastrophic loss year and the merits and drawbacks of federal support for the programs.
Managing the Risk of Natural Catastrophes: The Role and Functioning of State Insurance Programs
Working Paper by Carolyn Kousky — Sept. 22, 2010
Journal Article — Jun 1, 2011
Managing Natural Catastrophe Risk: State Insurance Programs in the United States
Press Release — May 21, 2019
New Episode of Resources Radio on How the Trump Administration’s ACE Rule Affects Emissions
Journal Article — May 21, 2019
Impacts of a Carbon Tax across Us Household Income Groups: What Are the Equity-Efficiency Trade-Offs?
This paper assesses the impacts across US household income groups of carbon taxes of various designs.