Individual insurance companies usually do not provide insurance
products for natural disasters (e.g., flood, earthquake,
wildfire).
(1). Could you please explain the rationale behind this missing
private insurance market?
(2). Are there any public insurance programs against these
disasters? That is, can people buy insurance against natural
disasters from the government programs? Can you introduce one of
such programs, focusing on the key features including, but not
limited to: the underwriting process, the determinants of insurance
premium, the coverage, and...