Is Flood Insurance Feasible? Experiences from the People's Republic of China

Abstract

Flood insurance, a component of catastrophe insurance, is universally available in only a few countries. In many countries, it is available in a restricted form and its conditions vary greatly. Coverage is usually denied to those regarded as relatively high risk for flooding. This working paper analyzes the feasibility of providing flood insurance vis-à-vis the experience in the People's Republic of China.