Journal
INTERNATIONAL ECONOMIC REVIEW
Volume 53, Issue 3, Pages 1005-1025Publisher
WILEY
DOI: 10.1111/j.1468-2354.2012.00709.x
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Funding
- ICREA Funding Source: Custom
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Climate change is projected to increase the risk of natural disasters, such as floods and storms, in certain regions. This is likely to raise the demand for natural disaster insurance. We present a stated preference survey using choice modeling with mixed logit estimation methods in order to examine the effects of climate change and the availability of government compensation on the demand for flood insurance by Dutch homeowners. Currently, no private insurance against flood damage is offered in the Netherlands. The results indicate that there are opportunities for the development of a flood insurance market.
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