Architecture Commons^™

Quantifying The Role Of Insurance In Tornado-Impacted Community Recovery: A Survey And Simulation-Based Approach, Jie Zhao, Ji Yun Lee, Guirong Grace Yan, Fangjiao Ma

Civil, Architectural and Environmental Engineering Faculty Research & Creative Works

Insurance against disasters plays a critical role in community recovery by providing policyholders with reliable and timely payments for repairing or reconstructing damaged houses. By allowing homeowners to transfer risk, insurance enables homeowners to address house without experiencing significant financial burdens. Although historical events have highlighted the importance of insurance, its quantitative impact on community recovery, particularly in tornado-impacted communities, is understudied. This study focuses on advancing our understanding of whether sufficiently insured houses can have a positive impact on the recovery of tornado-impacted communities (i.e., the main research question). This paper proposes a two-stage simulation framework to quantitatively evaluate …