The world’s second-largest reinsurer, Swiss Re, reports “that natural catastrophes and man-made disasters cost the insurance industry $77 billion in 2012.” The report noted this figure covered “more than 300 catastrophes and disasters caus[ing] the loss of 14,000 lives and $186 billion.” These disasters included many of the 112 events …
In the wake of the devastation wrought by Hurricane Sandy, storm victims are also suffering from a New Jersey state law that prohibits businesses from raising their prices more than 10 percent “within 30 days of a declared state of emergency.” Despite the intentions of New Jersey legislators, laws intended …
In a shameless attempt to politicize Hurricane Sandy, The New York Times rushed out an editorial, “A Big Storm Requires Big Government,” attacking conservatives for advocating a rebalancing of disaster response responsibilities. The Times says the Federal Emergency Management Agency (FEMA) “was put back in working order by President Obama, …
As Tropical Storm Isaac is upgraded to Hurricane Isaac, the national media’s focus is on comparing the potential impact of Hurricane Isaac to Hurricane Katrina. Given that Hurricane Isaac appears headed to New Orleans and may hit land exactly seven years after Hurricane Katrina did, this focus is natural. With …
On the fifth anniversary of Hurricane Katrina, credit for New Orleans’s ongoing recovery continues to go to the grassroots, not the federal government. Grassroots had the reflexes and staying power that government did not. There’s no question that the disaster and aftermath of Katrina lifted the veil on a dysfunctional …
Despite the best efforts of America’s most expensive disaster in history, Hurricane Katrina didn’t bankrupt FEMA. Nonetheless, almost five years after Hurricane Katrina devastated the Gulf Coast, FEMA teeters on bankruptcy due to its policy of federalizing virtually every natural disaster in America. As The Heritage Foundation has shown, the …
