Importantly, the federal government and Congress should evaluate the current ad hoc system of disaster assistance to identify financial incentives that would encourage pre-event planning and preparedness. The recurrent process of post-event funding of recovery should be augmented with conditions and incentives for proper rebuilding, the purchase of property prone to repetitive loss and replacement of natural habitats that provide local protection.
Federal agencies such as NOAA and NASA should be well funded for remote and terrestrial sensing and research on weather and climate as both the private and public sectors are dependent on their risk assessment and data.
Nature is a valuable asset. If we respect its temper, we can be better prepared to withstand the devastating impacts of extreme weather and more resilient in recovery.
Frank W. Nutter is president of the Reinsurance Association of America.
Former Sen. Scott Brown, R-Mass., candidate for U.S. Senate in New Hampshire, holds his hand over his heart during the singing of the national anthem as he waits to take the stage for his town hall campaign rally with Sen. John McCain at the Pinkerton Academy in Derry, N.H., on Monday, Aug. 18, 2014.