By Giovanna da Silva Last year, Hurricanes Harvey and Irma brought price gouging back into the national spotlight. During and after Hurricane Irma, the Florida Attorney General, Pam Bondi, received over 14,000 complaints of price gouging. While there are 10 active ongoing investigations of price gouging, only one case has been resolved since December. Price … Continue reading Anti-Price Gouging Laws Hinder Hurricane Recovery Efforts
Jones Act Protectionism Hinders Puerto Rican Recovery Efforts
By Giovanna da Silva On September 16, Category 5 Hurricane Maria made landfall on Puerto Rico with sustained winds of 155 miles per hour. Maria set the record as the strongest hurricane to hit the island in 89 years. With millions of displaced Puerto Ricans desperately in need of basic essentials, such as oil, food, … Continue reading Jones Act Protectionism Hinders Puerto Rican Recovery Efforts
Hurricane Response Efforts are Most Effective When Decentralized
By Chad Thomas According to the Federal Emergency Management Agency (FEMA), emergency responses to hurricanes aim to prevent further loss of life and property damage. Effective emergency responses utilize local information and enable decentralized responses from within the disaster zone. Local information about necessary relief in affected areas aids response efforts. A decentralized response enables … Continue reading Hurricane Response Efforts are Most Effective When Decentralized
Challenges to Privatizing Flood Insurance
Giovanna Dasilva The National Flood Insurance Program (NFIP), implemented in 1968 to address a market failure in the flood insurance sector, has been the subject of scrutiny following hurricanes Harvey and Irma. Increasing the scope of the private sector has often been cited as a potential solution to the NFIP’s pitfalls. However, there are challenges … Continue reading Challenges to Privatizing Flood Insurance
After this Hurricane Season, We Need to Rethink Flood Insurance
Giovanna Dasilva With the national spotlight on flooding caused by hurricanes Harvey and Irma, the National Flood Insurance Program (NFIP) has come under scrutiny. The federal program primarily focuses on offering flood insurance coverage and reducing the impact of flood damage. The NFIP was established in 1968 to counteract a market failure on the … Continue reading After this Hurricane Season, We Need to Rethink Flood Insurance
Some Regulations Hinder Storm Recovery
By Chad Thomas and Matt Kelly One common policy response to hurricanes is to strengthen building codes. Former FEMA chairman Craig Fugate blames inadequate state and local building codes, rather than inept federal government disaster relief efforts, for the woeful response to Hurricane Katrina. After Hurricane Andrew in 1992, building code enforcement was enhanced in … Continue reading Some Regulations Hinder Storm Recovery
Citizens Property Insurance Corporation Still Vulnerable to Underfunding
By Chad Thomas Florida’s Citizens Property Insurance Corporation (Citizens) is a state-run insurer of last resort for commercial and residential property owners unable to afford a policy in the private market. Citizens tends to insure wealthy homeowners along the coast, where property values and the risk of damage are highest. In 2002, the Florida Windstorm … Continue reading Citizens Property Insurance Corporation Still Vulnerable to Underfunding
Preparing Florida’s Government Policy for The Next Big Hurricane
by Chad Thomas Political and economic conditions in New Orleans before 2005 left the city unprepared for Hurricane Katrina. The government bureaucracies responsible for levee maintenance were mismanaged and corrupt officials diverted needed funds. Weak economic performance before Katrina also set up affected areas for slow recovery afterward. New Orleans’ experience shows how government can … Continue reading Preparing Florida’s Government Policy for The Next Big Hurricane
Anti-Price Gouging laws Hamper Storm Recovery
By Chad Thomas Prices can tell us a lot. They communicate information about the value of resources in an economy and coordinate action among a myriad of buyers and sellers, many of whom have never met. The price system often comes into question in the aftermath of a natural disaster like Hurricanes Hermine and Matthew, as … Continue reading Anti-Price Gouging laws Hamper Storm Recovery
Citizens Property Insurance Corporation is Regressive and Risky
By Matt Kelly Citizens Property Insurance Corporation was formed by the Florida Legislature in 2002 for the purpose of serving Florida’s residual property insurance market. Its creation was justified by the argument that middle-income residents have a tough time purchasing insurance in a hurricane-prone state like Florida, and public subsidies were needed to even the … Continue reading Citizens Property Insurance Corporation is Regressive and Risky