Federal Disaster Assistance Budgeting: Are We Weather-Ready? Hearing Before a Subcommittee of the Committee on Appropriations, United States Senate, One Hundred Twelfth Congress, First Session, Special Hearing July 28, 2011--Washington, DC [open pdf - 908KB]
From the opening statement of Richard Durbin: "I'm pleased to convene this hearing to investigate the Federal Government's responsibilities in terms of dealing with long-term planning to mitigate the economic impact of severe weather events. […] Are we ready? Well, the private insurance industry is. I was surprised, Mr. Nutter, in visiting some of the leaders in your business, a year or two ago, and realizing how closely they follow weather and weather patterns, principally if they're in the property and casualty realm. And they make business decisions about risk, and whether or not the risks are going to increase to the point where premiums have to go up or they stop writing insurance. And they make those decisions on a regular basis. You're thinking ahead. I'm not sure the Federal Government is thinking ahead when it comes to our preparedness for disasters. Private insurers handled $89 billion in losses, sustained by 5.5 million policyholders, in the 2004 and 2005 hurricane seasons without any significant setbacks. Given the industry's success, I want to see if there are budgeting practices the Federal Government could adapt from the private sector to better forecast how we budget for disaster assistance efforts." Statements, letters, and materials submitted for the record include those of the following: Richard J. Durbin, Howard Kunreuther, Erwann Michel-Kerjan, Jerry Moran, David C. Trimble, Kathryn D. Sullivan, James Rivera, Donald J. Wuebbles, and Franklin W. Nutter.
S. Hrg. 112-181; Senate Hearing 112-181
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