Improving the Post-Flood Financial Resilience of Lower-Income Households through Insurance
Flooding is the costliest natural disaster and the risk is escalating in many places
due to the combined effects of sea level rise, changing storm patterns, and
increased development [e.g., 1-3]. Prior research has found that lower-income
groups and minorities suffer disproportionately from disasters and recover less
quickly than more privileged residents [for example: 4, 5-7]. Current policies and
programs are not effectively meeting the post-disaster financial needs of these
households. As many municipalities around the country face escalating flood risk
in the coming years, new policies are needed to secure the post-disaster financial
resilience of low- and moderate-income (LMI) households.
Kousky, Carolyn; Wiley, Helen
Wharton University of Pennsylvania
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