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Hi, interesting article. Even in rich countries, the insurance industry is struggling with so-called negative selection: customers tend to acquire protection only against the risks to which they are most exposed. For example, a homeowner on the coast of Florida may buy insurance against natural disasters, while a resident of the countryside will find it unnecessary. But for the insurance industry, it is important that they both buy policies with maximum coverage. The main problem for the American insurance industry is flood protection. Private insurance companies left the market in the middle of the 20th century, unable to cope with financial losses. The federal government intervened by creating the National Flood Insurance Program. It provides real estate coverage in high-risk areas.