As I noted a few days ago, there was a Senate hearing this week on extreme weather events. According to an article based on the testimony of an international reinsurance executive:
The United States faces a “resilience gap” with the potential to disrupt the American economy with long-term consequences, an insurance firm official, who also urged Congress to prioritize investments in resilience over disaster response, told a Senate panel Feb. 12.
“Should resilience be prioritized over other disaster response costs? Absolutely,” said Lindene Patton, chief climate product officer for Zurich Financial Services. She testified before the Senate Homeland Security and Governmental Affairs Committee.
Thanks for Bill Cumming for this URL
Personally, I am not so much convinced about this new “gap” as I am interested in her perspective as an insurance executive in a major reinsurance co.