Utilisation of Parametric Microinsurance to Improve the Financial Resilience of Low‑Income Households in the United States (Oct 2020 – Jun 2021)
Natural disaster risk is escalating around the globe and in the United States. A large body of research has found that lower-income households disproportionally suffer from disasters and are less likely to recover. Parametric microinsurance has been used in many developing countries to improve the financial resilience of low-income households. This paper presents a review of the evidence for implementing parametric microinsurance in the U.S., with spillover lessons for other highly developed countries.