EXPANDING THE NATIONAL FLOOD INSURANCE PROGRAM TO COVER COASTAL EROSION DAMAGE
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The National Flood Insurance Program does not currently
cover damage strictly attributable to coastal erosion. This paper uses the results of a nationwide survey of coastal property owners to estimate the demand for such insurance. We find that there is significant demand at prices in the range of current flood insurance premiums. Demand is influenced in the hypothesized way by increased measures of erosion risk as well as by insurance price and income.