government officials so they can make more informed decisions as to ways to reduce
catastrophic losses in the future (Michel-Kerjan and Slovic, 2010; Kunreuther et al.,
2013).
This chapter addresses the above points. Section 11.2 provides evidence of the
growing concerns regarding catastrophe losses worldwide and the significant increase
in insured losses. We also show that in the United States, the federal government has
been increasingly generous in providing devastated areas with historical amounts of
post-disaster relief.
Section 11.3 discusses a simple model of insurance supply to be used ...
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