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Book Report: Natural Hazards and the Insurance Industry
The effectiveness of insurance coverage for natural disasters
like earthquakes and hurricanes — and how insurance
programs can be used with other policy tools to encourage
better loss reduction measures — is the subject of a new
book co-edited by a Wharton professor.
Paying the Price: The Status and Role of Insurance Against
Natural Disasters in the United States (Joseph Henry Press)
— by Howard Kunreuther, the Cecelia Yen Koo Professor
of Decision Sciences and Public Policy, and co-director of
the Wharton Risk Management and Decision Processes
Center, and Richard Roth, Sr., a retired insurance executive
and property/casualty actuary — discusses the dramatic
increase in insured losses from natural disasters since 1989.
The book also addresses the concern that insurers have
about their ability to provide coverage against more such
events in the future, and the role of reinsurance and private/
public sector initiatives at the state and federal levels,
among other topics.
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