An ELI Public Webinar
More severe storms and rising sea levels pose a threat to U.S. coastal communities, including millions of homes and businesses. Insured damages to coastal property are steadily increasing, insurance premiums are increasing, and private insurance companies have stopped serving some coastal states. Projected sea-level rise will push storms and disaster-related property damage to wider areas, so even more communities will be impacted.
These trends pose risks to homeowners’ financial health and security. Low-income homeowners are least able to absorb premium increases and least able to manage sale of their properties and relocation. High-cost insurance, or the risks imposed by no insurance, will gradually reduce coastal property value and lower municipal tax revenues, resulting in community-scale impacts. Lag times between increased risks and premium increases will result in some properties lacking sufficient insurance, posing a risk to banks and other financial institutions. Taken together, the consequences of declining availability and increasing costs constitute a coastal property insurance crisis.
Join the Environmental Law Institute and expert panelists to discuss this crisis. What are our national goals for operation of the private coastal property insurance market? What programs and policies might insurance providers and governments adopt to best guide the coastal property insurance market toward desired national goals? Our panelists will discuss these questions and many more.
Panelists:
Alice Hill, David M. Rubenstein Senior Fellow for Energy and the Environment, Council on Foreign Relations
Dave Jones, Director, Climate Risk Initiative, Center for Law, Energy, & the Environment (CLEE), UC Berkeley; Senior Fellow, ClimateWorks Foundation
Carolyn Kousky, Associate Vice President for Economics and Policy, Environmental Defense Fund
Jessica Dandridge, Executive Director, The Water Collaborative of Greater New Orleans
Jeff Peterson, Visiting Scholar, Environmental Law Institute; Facilitator, The Coastal Flood Resilience Project; Author, A New Coast: Strategies for Responding to Devastating Storms and Rising Seas; Moderator
Materials:
Materials will be posted as they are received.
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