Coastal Disaster Insurance in the Era of Global Warming: The Case for Relying on the Private Market

Georgetown Environmental Law & Policy Institute, 2007

61 Pages Posted: 24 Oct 2010 Last revised: 28 Apr 2013

See all articles by Justin R. Pidot

Justin R. Pidot

University of Arizona - James E. Rogers College of Law

Date Written: 2007

Abstract

Recent hurricanes and other severe coastal weather have caused substantial property damage, which, in turn, has increased insurance rates and made insurance difficult to obtain in some locales. This Report suggests that subsidizing the cost of insurance by creating a federal wind insurance program is the wrong way to ensure that property owners can find insurance because subsidies will only increase the intensity of development and, as a result, future losses. Instead, the Report suggests that allowing insurance companies to establish market rate premiums will provide the right price signals to prevent excess development along the coast.

Keywords: Coastal Development, Property Insurance, Global Warming

Suggested Citation

Pidot, Justin R., Coastal Disaster Insurance in the Era of Global Warming: The Case for Relying on the Private Market (2007). Georgetown Environmental Law & Policy Institute, 2007. Available at SSRN: https://ssrn.com/abstract=1695697

Justin R. Pidot (Contact Author)

University of Arizona - James E. Rogers College of Law ( email )

P.O. Box 210176
Tucson, AZ 85721-0176
United States

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