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How much money are you willing to lose when the next catastrophe strikes?
Despite record losses from hurricanes and other recent natural disasters, many still think we can continue to gamble with Mother Nature and win. But we have now reached a breaking point because of the increasing concentration of population and activities in high-risk coastal regions of the country.
Not convinced? Of the 25 most costly insured disasters since 1970, 15 of them occurred between 2001 and 2010.
The question is not whether future catastrophes will occur but when -- and who will pay for them.
At War with the Weather invites the reader—individuals, business decision makers and government policymakers alike—to a groundbreaking examination into how we currently think about catastrophes, (mis)manage risks, and how financial recovery from natural disasters in the United States must radically change.
Based on empirical evidence, Kunreuther and Michel-Kerjan with their colleagues demonstrate how, by developing innovative and sustainable solutions, it is possible to win the war against the weather.
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