Excellent New Article – in Environment Magazine

Since Michelin ranks restaurants with stars, the Diva has decided to award stars to documents re recovery. Here is the first one I would give 4 stars to:

Making America More Resilience toward Natural Disasters: A Call For Action, by Howard Kunreuther, Erwann Michel-Kerjan and Mark Pauly. From Environment Magazine, July/August 2013.  The title does not really do justice to the wide array of useful content here, so I suggest you download the full article and decide for yourself how you would categorize it.

Some excerpts:

Hurricane Sandy caused an estimated $65 billion in economic losses to residences, business owners, and infrastructure owners. It is the second most costly natural disaster in recent years in the United States, after Hurricane Katrina in 2005, but it is not an outlier; economic and insured losses from devastating natural catastrophes in the United States and worldwide are climbing.

According to Munich Re,2 real-dollar economic losses from natural catastrophes alone have increased from $528 billion (1981–1990), to $1,197 billion (1991–2000), to $1,23 billion (2001–2010). During the past 10 years, the losses were principally due to hurricanes and resulting storm surge occurring in 2004, 2005, and 2008. Figure 1 depicts the evolution of the direct economic losses and the insured portion from great natural disasters over the period 1980–2012.2

There is a wealth of useful information in this article, which makes it hard to summarize. It is thoughtful and clearly writtten. I consider this an essential document, one that I think will be a classic in time.

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