Conference Agenda
Overview and details of the sessions of this conference.
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Some information on the session logistics:
If not stated otherwise, the discussant is the following speaker, with the first speaker being the discussant of the last paper. The last speaker of each session is the session chair. (Exception: invited sessions)
Presenters should speak for no more than 20 minutes, and discussants should limit their remarks to no more than 5 minutes. The remaining time should be reserved for audience questions and the presenter’s responses. We suggest following these guidelines also in the (less common) 3-paper sessions in a 2-hour slot, to allow participants to move between sessions. Discussants are encouraged to avoid summarizing the paper. By focusing on a few questions and comments, the discussants can help start a broader discussion with the audience.
Only registered participants can attend this conference. Further information available on the congress website https://www.iseg.ulisboa.pt/en/event/iipf/ .
Venue address: ISEG - Lisbon School of Economics & Management, R. Francesinhas 21, 1200-675 Lisboa, Portugal
Please note that all times are shown in the time zone of the conference. The current conference time is: 17th Sept 2026, 11:40:00am WEST
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Daily Overview |
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E13: The Economics of Insurance: Health, Long-Term Care, and Catastrophic Risk Location: Room 114 (Francesinhas 1) | |
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Optimal Flood Insurance in a Second-Best World: Fiscal Spillovers, Reclassification Risk and Moral Hazard 1: New York University, United States of America; 2: Massachusetts Institute of Technology Intensifying climate change makes protection against natural disaster risk—through ex ante insurance or ex post aid—a central public policy issue. U.S. flood risk protection has relied on FEMA disaster aid and subsidized insurance through the National Flood Insurance Program (NFIP). To correct subsidy-induced overbuilding and under-mitigation in flood-prone areas, the NFIP recently moved to actuarially fair premiums. This reform has two unintended consequences: fiscal spillovers onto FEMA disaster aid as insurance coverage declines in flood-prone areas, and greater household exposure to uninsurable reclassification risk from uncertain climate projections. We develop a dynamic model of optimal flood insurance and estimate the five key parameters needed to implement it. We find that spillover and reclassification-insurance benefits outweigh moral hazard costs at low subsidy levels, implying an optimal subsidy of 46%, comparable to pre-reform subsidization.
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