Wednesday, September 28, 2011

Does Government Intervention Hinder Disaster Recovery?

In this recent article, Lloyd's of London's General Counsel talks about a report to be released by Lloyd's that questions whether the intervention by the federal and state governments in the US in natural disasters helps or hurts recoveries.  The article states that "the government covers too many damages. 'You have the coverage of flood risk funded by taxpayer at state and federal level,' added Mr McGovern. 'A lot of claims coming out of the national flood insurance programme are for repeat losses on homes. That’s not sustainable.'”  This raises an interesting question about the balance between private insurance and government response to natural disasters. 

The subject of natural disasters will be covered by the ABA's Tort, Trial & Insurance Practice Section at its Spring Meeting on May 17, 2012, in Charleston, North Carolina.  One of the panels will include government officials who will talk about government response to natural disasters.  For information about the ABA/TIPS Spring Meeting or any of the TIPS Disaster Initiative Programs, including past programs, please click here.

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