The demand for index-based flood insurance in a high-income country


Achtnicht, Martin ; Osberghaus, Daniel


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URL: https://ub-madoc.bib.uni-mannheim.de/41401
URN: urn:nbn:de:bsz:180-madoc-414019
Document Type: Working paper
Year of publication: 2016
The title of a journal, publication series: ZEW Discussion Papers
Volume: 16-051
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: Q54 , G22 , D14 , R22,
Keywords (English): Climate Change , discrete choice experiment , floods , insurance , index-based
Abstract: Flood insurance helps to cope with the risk of flooding, but take-up rates are relatively low. Insurance density could rise if index-based insurance (IBI) were provided as an alternative to traditional damage-based insurance (DBI). We analyze whether there is potential for private demand for IBI in Germany. We use data from a discrete choice experiment combined with damage data for a major flood in 2013. We find IBI to attract similar customers as DBI, while DBI is preferred on average. Our results suggest that not many new customers would enter the market, once IBI were available.

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Achtnicht, Martin ; Osberghaus, Daniel (2016) The demand for index-based flood insurance in a high-income country. Open Access ZEW Discussion Papers Mannheim 16-051 [Working paper]
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