Financial mechanisms formulated to reduce vulnerability to disasters by employing structured instruments such as insurance policies and catastrophe bonds which spread risks in exchange for a premium.
20 Jul 2016, Boston Globe, the
Disasters keep happening, and taxpayers’ money keeps rebuilding the vulnerability. Despite deadlock in the federal government, local and state leaders are embracing creative policy options to mitigate the impact of a warmer earth. And still, they will be inadequate as they rest on a homeland security and disaster management system that has barely changed with them.
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