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The role of insurance in reducing direct risk: the case of flood insurance

Surminski, Swenja (2014) The role of insurance in reducing direct risk: the case of flood insurance. International Review of Environmental and Resource Economics, 7 (3-4). pp. 241-278. ISSN 1932-1473

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Identification Number: 10.1561/101.00000062


The provision of flood insurance is a patchwork, with countries showing varying degrees of penetration, coverage types, demand levels, and design structures. This article explores the current understanding of flood insurance with a specific focus on the ability of flood insurance to contribute to direct risk reduction. The starting point is a consideration of the existing provision of flood insurance, both in established insurance markets and in developing countries. A review of efforts to analyse and explain the use and design of flood insurance highlights how the understanding of supply and demand determinants is steadily growing, while clear gaps also emerge. Particularly the question of utilizing flood insurance in the context of climate change and as a lever for physical risk reduction would benefit from further empirical and theoretical analysis. The article concludes with a reflection on current efforts to reform and design flood insurance and offers some pointers for future research.

Item Type: Article
Official URL:
Additional Information: © 2014 The Author
Divisions: Grantham Research Institute
Subjects: G Geography. Anthropology. Recreation > GF Human ecology. Anthropogeography
H Social Sciences > HC Economic History and Conditions
H Social Sciences > HV Social pathology. Social and public welfare. Criminology
Date Deposited: 19 Jan 2015 16:54
Last Modified: 19 Jun 2024 05:03
Projects: ENHANCE (Enhancing risk management partnerships for catastrophic natural disasters in Europe)
Funders: European Commission under the Seventh Framework Programme — Grant agreement no. 308438.

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