At War with the Weather represents a tour de force in the analysis of how natural disasters—specifically hurricanes—are mitigated, insured against, and recovered from financially in the United States. The book examines four states: Florida, Texas, New York, and South Carolina, and large metropolitan areas within each state.
- Reviewed by Brian Strong, CPP, CBCP Securitymanagement.com
"Citing demonstrations of inept leadership following such catastrophes as Hurricane Katrina and the Indonesian tsunami, the authors argue for a coherent strategy to ensure sustainable recovery from large-scale disasters. The value of this book is the insight the authors provide on how to quantify the costs and benefits of catastrophe insurance. As Ben Franklin wryly observed in his 1735 Poor Richard’s Almanac, "Some are weatherwise, some are otherwise." If you are otherwise, then read this book."
-Dev Strischek October 2009 The RMA Journal
"The authors have provided the ultimate institutional and theoretical analysis, and empirical reference source, for hurricane and flood risk insurance and mitigation. At War with the Weather will surely become a sine qua non of every researcher, corporate analyst, and state or federal policymaker, and will be extensively cited. A spectacular work."
-Mark J. Machina, Department of Economics, University of California, San Diego
"At War with the Weather offers more than just a detailed plan for managing weather risks. It outlines a long-overdue comprehensive, disciplined theory of risk management that applies to all manner of catastrophes."
-Michael Chertoff, former U.S. Secretary of Homeland Security
"In At War with the Weather, Professors Howard Kunreuther and Erwann Michel-Kerjan and their colleagues present leading thinking in a data-driven analysis of the problem society faces in managing the risk of natural disasters. They analyze the dynamics of the market, including the significance of insurer regulation, and propose innovative solutions. This book is essential reading for anyone searching for solutions to the problem of financing large-scale catastrophes."
-Terri M. Vaughan, CEO, National Association of Insurance Commissioners
"This wide-ranging and incisive volume provides telling answers to a compelling question: How should we control the risks and pay for the losses from weather catastrophes? The analysis, with extensive data and new insights, examines the roles of homeowners and regulators, of public and private insurance, and of financial markets in protecting the nation's trillions of dollars of assets at risk."
-Richard Zeckhauser, Frank P. Ramsey Professor of Political Economy, Kennedy School of Government, Harvard University
"This is a book you are going to want to read. The subject is important and the authors know what they are doing."
-Joseph B. Treaster, Knight Chair in Cross Cultural Communication at the University of Miami, former New York Times reporter
"This book will prove to be a very important contribution to this field for a long time to come."
-Robert E. Litan, Vice President for Research and Policy, Ewing Marion Kauffman Foundation
"At War with the Weather provides a comprehensive introduction to, and analysis of, US homeowners' insurance against hurricane risk. This excellent study of disaster insurance will be valuable to readers interested in insurance of hurricanes and other catastrophic risks."
-James K. Hammitt, Professor of Economics and Decision Sciences, Harvard University, and Director, Center for Risk Analysis