The Policy Incubator supported novel approaches for increasing resilience through the development of visionary ideas, encouragement of innovative thinkers, and the advancement of workable on-the-ground solutions.
Overview
The award winning Policy Incubator was:
A thought leader, supporting innovative and potentially transformative approaches to building resilience.
A test kitchen, where promising policies were analyzed and researched, giving support and grounding to visionary ideas.
A voice for the public good, committed to resilience opportunities that benefit everyone.
An independent convener, bridging disciplines and sectors, combining perspectives, translating across boundaries, and promoting collaboration through evidence-based policy design and analysis.
A trusted source for independent analysis, workable tools, and implementable solutions.
Equitable Resilience
Research
Topics
Promoting Nature-based Solutions
Linking Risk Reduction
& Risk Transfer
Closing The
Disaster Insurance Gap
Governmental Partners:
City of Portland Housing Bureau, Oregon
From 2018 – 2020, the Policy Incubator partnered with Reed College and the Portland Housing Bureau to help improve flood insurance affordability in the Lents and Powellhurst-Gilbert neighborhoods. Research focused on gaining a better understanding of flood insurance literacy, willingness-to pay for flood insurance, and flood risk perceptions. Learn more about the project here.
New York City Mayor’s Office of Climate Resiliency
In 2019, the Policy Incubator began partnering with the NYC Mayor’s Office of Climate Resiliency (MOCR) and their interagency NFIP Working Group to explore innovative insurance concepts that could complement the NFIP. Members of MOCR staff are serving in an advisory board member capacity for projects evaluating risk transfer tools to assist with climate adaptation goals.
In 2021, the Policy Incubator, MOCR, and Center for New York City Neighborhood (CNYCN) embarked on an ambitious joint project to promote the post-flood financial resilience of low and moderate income NYC households through inclusive insurance models. We are thrilled to announce that the Policy Incubator received a Stage 2 Civic Innovations grant from the National Science Foundation (NSF), in partnership with the Department of Homeland Security, to implement this project. The Civic Innovation Challenge is a research and action competition to fund ready-to-implement, research-based pilot projects that have the potential for scalable, sustainable, and transferable impact on community-identified priorities.
California Department of Insurance's Climate and Sustainability Branch
In 2019, the Policy Incubator partnered with the California Department of Insurance’s Climate and Sustainability Branch on topics of innovative risk transfer. The Branch seeks to address the threat of climate change by working with California and international leaders in climate science, public policy, and the insurance sector. The Deputy Commissioner on Climate and Sustainability is currently serving on the advisory board for interrelated projects exploring the role of risk transfer in climate adaptation. The Branch offered feedback to the Policy Incubator on how certain concepts could be tailored to meet the needs of Californian communities. In addition, the Executive Director of the Risk Center was the vice-chair of the Climate Insurance working group established by the California Insurance Commissioner to find innovative solutions to the risks posed by climate change. Access the Climate Insurance working group’s draft report here.
District of Columbia’s Department of Energy & Environment
In 2020, the Policy Incubator has partnered with the District of Columbia’s Department of Energy & Environment. In conjunction with various other stakeholders, the partnership explored policy tools DC could use to help with financial recovery from floods in lower-income neighborhoods of the city. Read an issue brief on the NFIP in Washington, DC here.
South Carolina Department of Insurance Safe Home Program
Starting in 2022, the Wharton Risk Center and South Carolina’s Safe Home program within the SC Department of Insurance collaborated on developing an inclusive insurance program to help lower-income households in the state at increasing risk of floods. The collaboration examined public, private, and hybrid models for equitable risk transfer and which are most viable for South Carolina based on various effectiveness, feasibility, cost, and sustainability considerations. Initial findings will be documented in a report.
Incubator Sponsors:
Our corporate and research sponsors helped make the work of the Policy Incubator possible. We wish to thank all our partners for their generous support.
Lloyd’s Tercentenary Research Foundation
