CEDM News: CEDM investigator Erwann Michel-Kerjan and colleagues looks at the number of affected residents in New York and New Jersey who did not have flood insurance in the aftermath of Hurricane/Superstorm Sandy

Work from CEDM investigator Erwann Michel-Kerjan and colleagues looks at the number of affected residents in New York and New Jersey who did not have flood insurance in the aftermath of Hurricane/Superstorm Sandy. Joint research by the Wharton Risk Center and Resources for the Future shows that many homes that sustained flood damage from Sandy did not have flood insurance. For example, along the entire New York coast, take up-rates are lower than 30 percent in most ZIP codes.

More information is in the attached Wharton Risk Center Issue Brief, and online at http://opim.wharton.upenn.edu/risk/library/WRCib2012c_Sandy-and-the-NFIP.pdf