Heartland Institute Insurance Experts Comment on Hurricane Irene
Hurricane Irene, the first storm of the 2011 hurricane season to threaten the mainland United States, appears likely to make landfall in the Carolinas sometime in the next few days.
Hurricane Irene, the first storm of the 2011 hurricane season to threaten the mainland United States, appears likely to make landfall in the Carolinas sometime in the next few days. The Heartland Institute’s national and Florida staff are available for comment and interviews on the storm and its impact on insurance markets.
For more comments, please refer to the contact information below.
“Hurricanes are an inevitable fact of nature that human beings cannot control. Dealing with them effectively requires being aware of the risks they pose. Some of the states in the path of the hurricane – North and South Carolina – have pursued responsible policies that have made them more resistant to hurricanes. Florida, however, has not done so. Its taxpayers and its natural environment pay the price every day.
“Thanks to far-sighted leadership on the part of elected officials in both North and South Carolina – particularly North Carolina commissioner Wayne Goodwin – the insurance markets should be pretty stable even if there’s lots of damage. There will be some problems – there always are – but most North and South Carolina residents have every reason to be confident about their insurance policies now and in the future.”
“It appears that Florida’s run of good luck in avoiding hurricanes will continue. But the enormous risks the state faces show just how irresponsible the state’s officials have been. Floridians will eventually have to pay the price.”
“Those with nothing to gain politically from promoting government intrusion in the insurance market have been saying for years that the day Florida is hit by a major hurricane under the current insurance crisis, the state would face a grave financial situation. Depending on her strength and location of landfall, hopefully Irene will not make those predictions come true on her own. But she should at the very least serve as a major wake-up call for lawmakers.”
The Heartland Institute is a 27-year-old national nonprofit organization with offices in Chicago, Illinois; Washington, DC; Austin, Texas; Tallahassee, Florida; and Columbus, Ohio. Its mission is to discover, develop, and promote free-market solutions to social and economic problems. For more information, visit our Web site or call 312/377-4000.