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Summary of ISD and StateBook April 15 webinar presentation by Alex Kaplan Executive Vice President for Alternative Risk, AmWINS Parametric Insurance: A New Tool for Disaster Recovery and Community Resilience According to NOAA, the natural disasters of 2023 and 2024 caused over $400 billion in economic damages. As extreme events continue to impact communities across the United States, economic development officials are searching for innovative financial tools to enhance disaster recovery and...

By Lynn Knight, CEcD, and Stephen Jordan — Institute for Sustainable Development The Final Report of the President’s Council to Assess the Federal Emergency Management Agency , released on May 7, confirms what many disaster recovery practitioners have recognized for years: states and local governments will increasingly be expected to lead disaster recovery, with the federal government serving in a more supporting role. The Council’s doctrine — “locally executed, state managed, federally...

By Nidia Martinez, Ph.D People and businesses often believe that if they can renew their insurance program year after year, they have “climate change coverage.” That is a misconception. Insurance covers losses from specific events—e.g., hurricanes, floods, wildfires—under defined terms and conditions. It does not cover the underlying trend driving those events. And it has no obligation to renew contracts year after year. While climate change is often described in terms of rising average...