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.
Sen. Jeff Flake, R-Ariz., takes a selfie with his cut-out head during the Hoops for Youth 16th annual charity basketball game held at George Washington University's Smith Center, September 8, 2014. The members of Congress team beat the lobbyist team 46-40. Buy photo here.