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Flood Insurance as a Flood Management Tool: An Economic Perspective

Author

Listed:
  • Lin, Tun

    (Asian Development Bank)

  • de Guzman, Franklin

    (Asian Development Bank)

  • Cuevas, Maria Cita

    (Asian Development Bank)

Abstract

Flood insurance is an insurance contract that covers losses to properties caused by flooding. Although floods affect Asia more than any other continent in the world, flood insurance is still at its nascent stage in the region. This paper explores the potentials and challenges of adapting flood insurance to the Asian setting. Due to the need to explore alternative flood management schemes and the context-specificity of flooding, country-specific design and testing of a feasible flood insurance is deemed necessary. This paper presents key aspects of flood insurance including economic design issues.

Suggested Citation

  • Lin, Tun & de Guzman, Franklin & Cuevas, Maria Cita, 2007. "Flood Insurance as a Flood Management Tool: An Economic Perspective," ADB Economics Working Paper Series 99, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0099
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    More about this item

    Keywords

    Asia; economic design; flood insurance; flooding; nascent stage;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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