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An idea: provide a service for house buyers and job seekers: see which cities and neighborhoods are in danger of being inundated in the future. Probably it coul

An idea: provide a service for house buyers and job seekers: see which cities and neighborhoods are in danger of being inundated in the future. Probably it could be integrated with some real estate platform - calculate a simple risk score for the listing using open elevation and traffic data. We need to start controlled abandonment of those areas already many decades early - starting from not investing more into building there. This is a very cheap way of massive scale disaster preparedness: not having people where the disaster happens.

deelowe 8y ago
Do insurance companies not already do this sort of thing?
- Gravityloss 8y ago
  I don't know if they look so far ahead? Ie if insurance is just for a few years at a time at once? There's a paper that proposes long term property insurance, which makes it seem the one year contract is the standard? http://opim.wharton.upenn.edu/risk/library/J2010(JIR)_DJ,HK,EMK_LongTermProptyIns.pdf http://opim.wharton.upenn.edu/risk/library/J2010(JIR)_DJ,HK,...
  - deelowe 8y ago
    Ahh. That makes sense. So insurance is more interested in the potential for a claim within the current policy cycle and not the long term risk.
    - Bartweiss 8y ago
      That, and in some cases highly-correlated risks get dismissed altogether. If your neighborhood floods, that's a bunch of insurance claims, but if your city floods, that's potentially a bailout, bankruptcy, or contract exemption for the insurer. (In some cases, like sea level rise in Florida, there's already an understanding that the state is subsidizing insurance that wouldn't be available otherwise.) So I could definitely imagine some value for a buyer-focused service that carries information about all known risk, not just covered/unsubsidized risk.
- dillonmckay 8y ago
  Kinda. It is why the state of Florida subsidizes homeowner’s insurnace policies. Otherwise, because of future known risks, it would be untenable. Also, many formerly vacant parcels of land known to be in the likely paths of hurricanes, have become subdivisions. I guess that is why flood insurance is a separate and optional policy?
vidro3 8y ago
yeah but it would never happen to me

deelowe 8y ago

Do insurance companies not already do this sort of thing?

Gravityloss 8y ago
I don't know if they look so far ahead? Ie if insurance is just for a few years at a time at once? There's a paper that proposes long term property insurance, which makes it seem the one year contract is the standard? http://opim.wharton.upenn.edu/risk/library/J2010(JIR)_DJ,HK,EMK_LongTermProptyIns.pdf http://opim.wharton.upenn.edu/risk/library/J2010(JIR)_DJ,HK,...
- deelowe 8y ago
  Ahh. That makes sense. So insurance is more interested in the potential for a claim within the current policy cycle and not the long term risk.
  - Bartweiss 8y ago
    That, and in some cases highly-correlated risks get dismissed altogether. If your neighborhood floods, that's a bunch of insurance claims, but if your city floods, that's potentially a bailout, bankruptcy, or contract exemption for the insurer. (In some cases, like sea level rise in Florida, there's already an understanding that the state is subsidizing insurance that wouldn't be available otherwise.) So I could definitely imagine some value for a buyer-focused service that carries information about all known risk, not just covered/unsubsidized risk.
dillonmckay 8y ago
Kinda. It is why the state of Florida subsidizes homeowner’s insurnace policies. Otherwise, because of future known risks, it would be untenable. Also, many formerly vacant parcels of land known to be in the likely paths of hurricanes, have become subdivisions. I guess that is why flood insurance is a separate and optional policy?

vidro3 8y ago

yeah but it would never happen to me