Individual insurance companies usually do not provide insurance products for natural disasters (e.g., flood, earthquake, wildfire). (1). Could you please explain the rationale behind this missing private insurance market? (2). Are there any public insurance programs against these disasters? That is, can people buy insurance against natural disasters from the government programs? Can you introduce one of such programs, focusing on the key features including, but not limited to: the underwriting process, the determinants of insurance premium, the coverage, and the claim process.