Public insurance programs

As the availability of private insurance coverage narrows in hurricane-, flood-, and fire-prone locales across the United States, public insurers, referred to as “insurers of last resort,” play a vital role in filling coverage gaps. While important backstops, public insurance programs typically cost policyholders more and provide less coverage. Tackling the affordability and coverage constraints of insurance requires significant risk reduction, such as weatherizing homes to withstand increased risk of hazards. This research aims to understand how public insurance programs, which have different financing mechanisms and missions oriented toward public welfare, drive risk reduction. This project is undertaken in collaboration with Dr. Carolyn Kousky and Dr. Jack Zinda and funded by an Environmental Defense Fund – Atkinson Center for Sustainability Impact Grant.