Historically, strong federal environmental regulations drove government action to manage water resources -- that’s changing as more communities experience flooding and see the benefits of nature-based solutions to mitigate those impacts.
Insurers play a key role in sending risk signals, sometimes in a form other than price. These risk experts need to lead by reframing the “insurance crisis” as the “insurability crisis,” and leveraging a time-tested safety standard approach to align a complex ecosystem of competing interests.
Homeowners who built their homes to IBHS certified FORTIFIED standards saved thousands after Hurricane Sally hit in 2020. The FORTIFIED building standard is saving homes from Category 3 storm damage, and also saving homeowners and insurance companies costs on annual insurance premiums and claims.
The Epicenter highlights initiatives and solutions that are making communities and businesses safer from the impacts of extreme weather and climate disasters.
We showcase individuals and organizations who are investing in resilience for the essential systems that are crucial to the functioning of society and the economy–our critical infrastructure.
The Epicenter’s goal is to help decision makers understand climate risks and identify practical, cost-effective solutions to protect their communities, businesses, and assets from the impacts of extreme weather and climate disasters.
Between 2000-2009, the U.S. averaged almost seven disasters per year that cost a billion dollars or more (per disaster). Twenty years later, in 2023, that number had spiked to 28 disasters every year, or one every other week.
What’s concerning is that these increasingly frequent climate events are not just the mega-storms like Hurricane Katrina (approximate cost: $200 billion). Today, even a 30-minute thunderstorm can cause over $1 billion in damage.
What’s going on? It’s a complex, nuanced challenge, and The Epicenter seeks to unpack the cost drivers and highlight innovative resiliency solutions.
The problem involves climate change, population growth and migration, asset exposure, federal policy, private capital, systemic inequities, and the need to adapt our nation’s critical infrastructure.
One thing is clear: we’re entering an era where the cycles of destruction-to-reconstruction will only become more rapid. Storms will hit. Communities will rebuild. Storms will hit again. Communities will rebuild once more.
These rapid cycles of deconstruction-to-reconstruction present an opportunity to think differently about how we prevent costly destruction in the first place, incorporate resiliency into our infrastructure, and support communities in the rebuilding process.
The Epicenter is an independent publication of The Resiliency Company.
