Number: RL32825
Title: Hurricanes and Disaster Risk Financing Through Insurance: Challenges and Policy Options
Authors: Rawle O. King, Government and Finance Division 
Abstract: This report examines the role of insurance in financing disaster risk and the changes implemented by insurers and legislators that helped to minimize market disruptions following the 2005 and 2004 hurricane seasons. After reviewing the congressional interest in financing catastrophe risk and summarizing the results of the last two hurricane seasons, the report describes lessons learned, the insurance market's response to hurricanes, and existing mechanisms for insuring hurricane losses. The concluding two sections analyze issue and policy options as well as future challenges that policymakers in the 110th Congress face.
Pages: 31
Date: January 31, 2008