When time permits today, I’ll read the full article. For now, my preliminary comments are two-fold.
First, the growth of property risks exposed to natural hazards along coastlines and bodies of water have increased over time, thus increasing insured losses. This is, in part, due to the lack of sufficient rules and ordinances preventing construction in high risk locations. Our politicians haven’t yet been given enough incentive to do the right thing, to control exposure to manageable levels. The causes of 100 year events morphing into 100 month events still hasn’t been properly analyzed by politicians responsible for NFIP, FEMA, etc.
Second, the Global Warming Alarmists will insist the growth of nat cats over recent years is due to human actions, despite what I wrote above about growth of exposures in high risk zones leading to increased frequency of insured losses. And yet, Al Gore still owns coastal property.
When time permits today, I’ll read the full article. For now, my preliminary comments are two-fold.
First, the growth of property risks exposed to natural hazards along coastlines and bodies of water have increased over time, thus increasing insured losses. This is, in part, due to the lack of sufficient rules and ordinances preventing construction in high risk locations. Our politicians haven’t yet been given enough incentive to do the right thing, to control exposure to manageable levels. The causes of 100 year events morphing into 100 month events still hasn’t been properly analyzed by politicians responsible for NFIP, FEMA, etc.
Second, the Global Warming Alarmists will insist the growth of nat cats over recent years is due to human actions, despite what I wrote above about growth of exposures in high risk zones leading to increased frequency of insured losses. And yet, Al Gore still owns coastal property.