Media Contact:
Carrie Conko
Director of Communications
Mercatus Center at George Mason University
Office: 703-993-4899
Email: cconko@gmu.edu
Mercatus On Policy - Ensuring Disaster
State insurance regulation, coastal development, and hurricanes
August 24, 2007
Little can be done to prevent hurricanes, but their impact on society depends greatly on actions taken before, during, and after the event. The insurance industry is one institution that particularly affects societal vulnerability to and recovery from disasters. Insurance spreads risk across a community and provides households and businesses with resources to recovery after disaster strikes. Although insurance is based on voluntary, contractual private agreements, many states regulate the industry extensively, guaranteeing coverage to high-risk properties at below market rates.
