Effective assessment of flood vulnerability and risk is essential for communities to manage hazards. This paper presents an empirical modeling methodology predict risk, considering factors hazard distribution, property exposure, built environment, socio-demographic economic characteristics a community. Vulnerability empirically modeled as the expected fraction loss that uninsured within communi...

This paper introduces a novel Satellite Precipitation-based Extreme Event Detection (SPEED) model to effectively support parametric or index insurance instruments specifically designed cover flood risk. Such financial tools are intended promote fast payouts in the aftermath of disastrous event. They leverage on measured hazard parameters, gathered immediately after event and defined as trigger(...

I examine the learning process that economic agents use to update their expectation of an uncertain and infrequently observed event. I use a new nation-wide panel dataset of large regional floods and flood insurance policies to show that insurance take-up spikes the year after a flood and then steadily declines to baseline. Residents in non-flooded communities in the same television media marke...

The risk of natural disasters has increased over the last few decades, leading to significant economic losses across globe. In response, research related loss due continued develop. At present, insurance remains best solution for funding such losses. purpose this study is analyse development as an alternative sustainable recovery after disasters. data used are articles obtained from several sou...

Wharton School, and co-director of the Wharton Risk Management and Decision Processes Center. He has a long-standing interest in ways that society can better manage low-probability, high-consequence events related to technological and natural hazards. Erwann O. Michel-Kerjan is managing director of the Wharton School's Risk Management and Decision Processes Center, and teaches Value Creation in...