Coalition predicts Atlantic hurricane activity will increase
A consortium of insurance and risk management experts predicts Atlantic hurricane and tropical storm activity will be 75% higher than usual this year. The forecast is the highest since the group's records began 23 years ago and is an increase from the 60% forecast issued last December. Business Insurance (free registration) (3/20)
Global warming has people worrying about their homes
Predictions that global warming will cause high water have real-estate buyers avoiding low-lying parts of Manhattan. Insurers are not renewing coverage in the eight downstate New York counties vulnerable to hurricanes. "When you have trillion-dollar exposure, it doesn't take much bad weather to cause extensive damage," says an Insurance Information Institute executive. The New York Times (3/11)
U.S. insurers lag Europe's on global warming issues, observers say
Observers say U.S. insurers are slower to act on global warming issues than their European counterparts. Insurance broker Marsh & McLennan was the only U.S. firm to sign a recent measure supporting limits on greenhouse gas emissions. "European insurers, and particularly Munich Re and Swiss Re, have always thought longer term," says Christopher Treanor, CEO of insurance broker Mercator Risk Services. "The U.S. as a business culture takes a shorter view." Business Insurance/Reuters (free registration) (3/9)
California levee threat raises few concerns for residents, developers
Developers and residents who live near California's Manteca levee do not seem concerned about the possibility that the levee could fail. Some residents who live in the potential path of the San Joaquin River note that they have flood insurance and access to boats. Meanwhile, developers are moving forward with plans to build new homes. The Modesto Bee (Calif.) (3/5)
Column: California, Louisiana both face heavy flood risk
California and Louisiana both face significant risk from floods and projects meant to control flooding, write Thomas J. Graff and Paul Harrison in the San Francisco Chronicle. They note that Louisiana "learned the hard way" after Hurricane Katrina. However, California can avoid a similar fate if ways can be found to make sure the federal government spends its flood management funds more effectively, they note. Graff is the California Regional Director of Environmental Defense and Harrison is the Coastal Louisiana Project Manager at the nonprofit group Environmental Defense. San Francisco Chronicle (3/4)
California to identify areas prone to large risks during fires
California officials are creating a plan to identify areas that could experience catastrophic losses during large wildfires. Meanwhile, populations in fire-prone areas continue to grow, officials say. The state in 2005 approved building codes requiring roofs and siding to be more fire resistant. The Press-Enterprise (Riverside, Calif.) (free registration) (2/21)
Editor's Note:
The SmartBrief news archive contains content appearing previously in SmartBrief publications. SmartBrief editors were not involved in the selection of these articles for the Sponsored Feature.
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