Residential Insurance against disasters in the U.S. – major reforms needed

Winds of Hurricane Katrina

Image by NASA Goddard Photo and Video via Flickr

Residential Insurance on the U.S. Gulf Coast in the Aftermath of Hurricane Katrina: A Framework for Evaluating Potential Reforms, by McDonald et al. (20 pp.) RAND report, Oct. 2010.  Interesting report on a topic not often discussed.  To quote the report:

Until an improved system for mitigating and insuring hurricane risk is developed, storms will continue to cause record-setting losses to life and property, ever-increasing federal disaster relief, and major economic disruption in the Atlantic and Gulf Coast States.

Those sound like compelling reasons to act to me.

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