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An Assessment Of The Role Of Insurance And Structural Measures In Flood Mitigation Planning

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  • Forsythe, G.A.

Abstract

There is no entirely satisfactory strategy to mitigate the risks associated with flooding. In Australia, reliance is usually placed on structural measures; however, an appraisal under different criteria highlights reasons for their inadequacy. Insurance is initially advocated as an alternative and appraised under similar criteria. It is shown to be a useful mitigation strategy, although somewhat limited in that it is merely a palliative to the flood problem. An alternative approach to flood mitigation is hypothesized which incorporates insurance as its base and utilizes other measures, particularly structural, where feasible. Such an approach is shown to effectively maximize the beneficial features of both insurance and structural measures. Problems relating to the workability of the scheme are subsequently analysed.

Suggested Citation

  • Forsythe, G.A., 1975. "An Assessment Of The Role Of Insurance And Structural Measures In Flood Mitigation Planning," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 43(02), pages 1-23, June.
    • Handle: RePEc:ags:remaae:9157
    DOI: 10.22004/ag.econ.9157
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    References listed on IDEAS

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    Cited by:

    1. Anderson, Jock R., 1979. "Impacts of Climatic Variability in Australian Agriculture: A Review," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 47(03), pages 1-31, December.
    2. Freebairn, John W., 1978. "Pros And Cons Of Temporary Industry Assistance," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 22(2-3), pages 1-12, August.
    3. Aislabie, Colin, 1976. "On The Optimal Output Of Flood Plains," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 44(03), pages 1-5, September.

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