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At War with the Weather
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At War with the Weather: Managing Large-Scale Risks in a New Era of Catastrophes

Howard C. Kunreuther and Erwann O. Michel-Kerjan

Abstract

The United States and other nations are facing large-scale risks at an accelerating rhythm. In 2005, three major hurricanes—Katrina, Rita, and Wilma—made landfall along the U.S. Gulf Coast within a six-week period. The damage caused by these storms led to insurance reimbursements and federal disaster relief of more than $180 billion—a record sum. Today we are more vulnerable to catastrophic losses because of the increasing concentration of population and activities in high-risk coastal regions of the country. The question is not whether but when, and how frequently, future catastrophes will st ... More

Keywords: United States, hurricanes, insurance reimbursements, disaster relief, natural disasters, homeowners, catastrophic losses, financial support, sustainable recovery, catastrophes

Bibliographic Information

Print publication date: 2009 Print ISBN-13: 9780262012829
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262012829.001.0001

Authors

Affiliations are at time of print publication.

Howard C. Kunreuther, author

Erwann O. Michel-Kerjan, author

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