Mend Not End

Recently my insurance renewal went up. All around the country insurance coverage is being increased by our human made natural catastrophes

Today, increased climate-altering incidents lack coverage because there's a limit amount of funds. All you have to do is look at what's happening in Florida after the last hurricane or what's going on in Texas and California with their wildfires.

Factoring the full and long-term cost of climate events change. Today, the insurance industry can not cover the impacts of our catastrophic weather events. Underwriters have done the math, and it just doesn't work. Unless we mend an unfavorable end of well- being may result.

Environmental and health care costs are interconnected. Unfortunately, we have not created a market system that accounts for clean air, water, and land.

America's history of resource mismanagement and limited pollution prevention impacts our grandchildren's lives.

My late father was a legislative lawyer who helped write Medicare and other major federal health insurance programs. These programs are unsustainable due to the enormous amounts of waste and inefficiency. So to with American affairs today.

The marketplace and public sector must not allow such projects as rebuilding in flood plains. Rebuilding in coastal areas after numerous hurricanes will bankrupt our country.

 

A few decades ago, I extensively researched financial assurances for landfills. I co-wrote a paper with two other experts since this was complicated. Also, I was instrumental in getting the Inspector General of EPA to investigate financial insurance and wrote a Washington Post editorial about this.  

As wastemakers and consumers, there are the consequences of our throw away society. Like many other sectors we have inadequate insurance coverage to pick up the bill. 

We're all shareholders and, in one sense, drinking out of the same financial well. When numerous disasters happen, then, market failure will result. Similar to 2008 financial crisis, the federal government can do so much. The risks may become much greater than the rewards with today's calamities

Also, there must be adequate reserves readily available by factoring other liabilities (e.g., requirements for property damage and bodily injury coverage). Improved risk management analysis-such as the requirement for full disclosure of all private and public environmental liabilities, should continue to qualitatively and quantitatively analyze its effectiveness.

Greater examination of insurance, full cost accounting and actuarial examination can determine if sufficient backup reserves or third-party guarantees (e.g., standby letters of credit and surety bonds) will attempt to cover future expenses. 

Environmental cost accounting is needed to assure that all costs and risks are being addressed.  Without such assurances future generations and resources are in jeopardy.

.

 

Investing for Foul Weather

Rob Arner

Factoring the full and long-term cost of climate change is evident. Today, the insurance industry can not cover the impacts of our catastrophic weather events. Underwriters have done the math, and it just doesn't work. Unless we mend how we account an unfavorable end of well being willresult.

Also, the public sector must not continue to subsidize such projects as rebuilding in flood plains. Rebuilding in coastal areas after numerous hurricanes will bankrupt our country

America's history of resource mismanagement and modest pollution prevention will burden our grandchildren's life.

My late father was a legislative lawyer who helped write Medicare and other major federal health insurance programs. Those programs are also unsustainable due to the enormous amounts of waste and inefficiency.

Environmental and health care costs are interconnected. Unfortunately, we have not created a market system that accounts for clean air, water, and land. 

A few decades ago, I extensively researched financial assurances for landfills. I co-wrote a paper with two other experts since this was complicated. Also, I was instrumental in getting the Inspector General of EPA to investigate financial insurance and wrote a Washington Post editorial about this.  

As wastemakers and consumers, there are the consequences of throw away society. We're bearing the cost of this since we have poor insurance coverage to pick up the bill. This is happening and all facets of our culture. We're kicking the trash can down the road of unattended consequences. 

Today, our environmental incidents lack coverage since there is minimal insurance coverage when an accident results. All you have to do is look at what's happening in Florida after the last hurricane or what's going on in California with the wildfires. We're all shareholders and, in one sense, drinking out of the same financial well. When numerous disasters happen, then, market failure will result. Similar to 2008 financial crisis, the federal government can do so much. The risks may become much greater than the rewards with today's calamities

Also, there must be adequate reserves readily available by factoring other liabilities (e.g., requirements for property damage and bodily injury coverage). Improved risk management analysis-such as the requirement for full disclosure of all private and public environmental liabilities, should continue to qualitatively and quantitatively analyze its effectiveness.

Greater examination of insurance and full cost accounting and actuarial examination. Wise accounting and financial analysis can determine if sufficient backup reserves or third-party guarantees (e.g., standby letters of credit and surety bonds) will cover future expenses. 

Championing waste reduction programs for many years we must reward saving instead of wasting. Severe weather has altered how underwriters predict as the risk of loss increases. 

Environmental cost accounting is needed to assure that all costs are risks and are being addressed, including assumptions regarding future economic growth. Without such assurances sound scrutiny will be lacking, and future generation will be left with this mess.

.

 

 

 

.