Paying the price

the long version

This book considers the effectiveness of insurance coverage for low-probability, high-consequence events such as natural disasters - and how insurance programs can successfully be used with other policy tools, such as building codes and standards, to encourage effective loss reduction measures. The authors discuss the reasons for the dramatic increase in insured losses from natural disasters since 1989 and the concern that insurers have about their ability to provide coverage against similar events in the future.