Insurance, public assistance and household flood risk reduction: A comparative study of Austria, England and Romania

14737 30 78864 2 217867 document 78864 Hanger_et_al-2017-Risk_Analysis.pdf application/pdf 3f2b9a4c789a1d2168cc5c864b5bbca4 MD5 962712 2017-08-18 12:18:10 https://pure.iiasa.ac.at/id/eprint/14737/7/Hanger_et_al-2017-Risk_Analysis.pdf 14737 7 7 application/pdf text en public cc_by

Hanger_et_al-2017-Risk_Analysis.pdf

published 78865 2 217872 document 78865 lightbox.jpg image/png 01c07438233ef4e917fc4ce486582d43 MD5 45814 2017-08-18 12:28:25 https://pure.iiasa.ac.at/id/eprint/14737/8/lightbox.jpg 14737 8 8 image/png other Thumbnails conversion from text to thumbnail_lightbox en public

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/78864 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/78864 http://eprints.org/relation/isIndexCodesVersionOf https://pure.iiasa.ac.at/id/document/78864 archive 353 disk0/00/01/47/37 2017-07-12 09:09:02 2021-08-27 17:29:13 2017-07-12 09:09:02 article show Hanger-Kopp S. 1917 Bayer J. 1354 Surminski S. Nenciu C. Lorant A. 2021 Ionescu R. Patt A. Insurance, public assistance and household flood risk reduction: A comparative study of Austria, England and Romania pub prog_risk prog_rpv flood insurance, public incentive, moral hazard, risk reduction, climate change adaptation In light of increasing losses from floods many researchers and policy makers are looking for ways to encourage flood risk reduction among communities, business, and households. In this study we investigate risk reduction behavior at the household level in three European Union (EU) Member States with fundamentally different insurance and compensation schemes. We try to understand if and how insurance and public assistance influence private risk reduction behavior. Data was collected using a telephone survey (n=1,849) of household decision makers in flood-prone areas. We show that insurance overall is positively associated with private risk reduction behavior. Warranties, premium discounts, and information provision with respect to risk reduction may be an explanation for this positive relationship in the case of structural measures. Public incentives for risk-reduction measures by means of financial and in-kind support, and particularly through the provision of information are also associated with enhancing risk reduction. In this study public compensation is not negatively associated with private risk reduction behavior. This does not disprove such a relationship, but the negative effect may be mitigated by factors related to respondent’s capacity to implement measures or social norms that were not included in the analysis. The data suggests that large-scale flood protection infrastructure creates a sense of security that is associated with a lower level of preparedness. Across the board there is ample room to improve both public and private policies to provide effective incentives for household level risk reduction. 2017-08-17 published Wiley-Blackwell 10.1111/risa.12881 117 182 187 public Risk Analysis TRUE 1539-6924 The research for this paper was funded through the Austrian Climate Research Program (Project number: KR11AC0K00277) Enhancing risk management partnerships for catastrophic natural disasters in Europe (ENHANCE, FP7 308438) FALSE yes info:eu-repo/grantAgreement/EC/FP7/308438/EU/Enhancing risk management partnerships for catastrophic natural disasters in Europe/ENHANCE; info:eu-repo/semantics/article info:eu-repo/semantics/openAccess