Flood insurance redesigned: Regulatory considerations for a viable and sustainable private market
نویسندگان
چکیده
Several factors have converged in recent years, bringing the need for admitted-market, private flood insurance options U.S. to fore. Meanwhile, other coincided that make modeling and pricing large segments of risk exposures more accessible accurate than was historically possible. The National Flood Insurance Program (NFIP), despite rating reforms, faces daunting financial market challenges. has increased: severe flooding cost such events continues grow. loss models can support granular are now commercially available, outperforming Federal Emergency Management Agency’s (FEMA’s) maps used mitigation purposes. states begun encouraging admitted markets provide addition NFIP excess surplus lines coverages already available. This paper examines opportunity challenges, highlights state-level strategies, demonstrates importance flexibility program legislation regulation—with respect both design implementation. Our work contributes literature by: 1)exploring challenges development insurance; 2)demonstrating local considerations flexible features state-level, strategies a sustainable framework insurers consider; 3) highlighting alignment model laws several state programs with recommended features.
منابع مشابه
Private health insurance: an international overview and considerations for Canada.
Since the passage of the Canada Health Act in 1984 and its prohibition of extra-billing, there has been an extremely limited role for private health insurance in Canada as a mechanism to pay for medically necessary physician or hospital services. In the aftermath of the landmark Supreme Court decision Chaoulli v. Québec, this may change.
متن کاملthe test for adverse selection in life insurance market: the case of mellat insurance company
انتخاب نامساعد یکی از مشکلات اساسی در صنعت بیمه است. که ابتدا در سال 1960، توسط روتشیلد واستیگلیتز مورد بحث ومطالعه قرار گرفت ازآن موقع تاکنون بسیاری از پژوهشگران مدل های مختلفی را برای تجزیه و تحلیل تقاضا برای صنعت بیمه عمر که تماما ناشی از عدم قطعیت در این صنعت میباشد انجام داده اند .وهدف از آن پیدا کردن شرایطی است که تحت آن شرایط انتخاب یا کنار گذاشتن یک بیمه گزار به نفع و یا زیان شرکت بیمه ...
15 صفحه اول“the effect of risk aversion on the demand for life insurance: the case of iranian life insurance market”
abstract: about 60% of total premium of insurance industry is pertained?to life policies in the world; while the life insurance total premium in iran is less than 6% of total premium in insurance industry in 2008 (sigma, no 3/2009). among the reasons that discourage the life insurance industry is the problem of adverse selection. adverse selection theory describes a situation where the inf...
15 صفحه اولذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of insurance regulation
سال: 2023
ISSN: ['0736-248X']
DOI: https://doi.org/10.52227/26443.2023