Flood poses risk to property and productivity on every continent, and most developed countries have flood insurance available to mitigate that risk. However, everywhere you go, the flood insurance market is different.
There are four principle types of flood insurance models around the world, differentiated by who backs the insurance (government or private markets), and whether it’s bundled or separate from other property insurance coverage (e.g., flood and fire insurance are frequently bundled together).
Each style has its own pros and cons, and each exists in its region for a variety of reasons. Here is a quick look at the four types.