Topic: What Informs Dynamic Flood Insurance Uptake?

Lecturer: Assistant Prof.Yi Huang, School of Economics, Nanjing Audit University

Time: 10:00-11:00 a.m. June 16th, 2023

Venue: B336 Zhixin Building, Central Campus

Abstract: This paper examines what Informs dynamic flood insurance decisions. We exploit several information paths available to homeowners, including personal and peers’ experiences and local weather anomalies. Our novelty is factoring in changes in media attention to climate change that could influence homeowners’ belief on future flood risks and, in turn, flood insurance decisions over time. In this study, we demonstrate that decision- making processes, while often heuristic in nature, cannot solely rely on event-based experiences for maintaining accurate and up to date assessments of flood risk. By leveraging the heightened public awareness of climate change, we highlight the potential of unexpected media attention surrounding climate change as a valuable source of information for updating flood risk perception and promoting dynamic flood insurance uptake.