Soaring Flood Insurance Rates: Should Congress Step In?
A panel discussion with Howard Kunreuther (The Wharton School), Sergej Mahnovski (Director, NYC Mayor's Office of Long Term Planning & Sustainability), Joshua Saks (Legislative Director, National Wildlife Federation), Steve Ellis (VP, Taxpayers for Common Sense), and Kevin Boyle (Managing Editor, Rockaway Wave). Moderated by Professor Michael B. Gerrard.
December 4, 2013
Please skip ahead to start of program at 3:57 on video.
President Christopher Jorebon Loeak of the Republic of the Marshall Islands spoke on climate change at Columbia's World Leaders Forum
In the wake of Hurricane Sandy, there is a debate on whether to rebuild the areas that were devastated and continue to be vulnerable. Both New York and New Jersey have announced limited programs to buy out certain homes, but these programs are extremely expensive and can lead to checkerboard patterns. This forum will not advocate any particular approach, but will explore these underlying legal questions:
1. What governmental actions in restricting development or reconstruction in vulnerable areas are “takings” that require compensation? 2. How would the government adopt a policy of managed retreat from the coastlines—through changes in zoning and building codes, restrictions on infrastructure, or other methods? What process would be needed? 3. What is the role of federal flood insurance and private insurance in shaping patterns of development or redevelopment in vulnerable areas? 4. Where has managed retreat been attempted in the past? What is the experience with these attempts, and what procedures were followed?
J. Peter Byrne Professor and Faculty Director, Georgetown Climate Center, Georgetown Law School
Vicki L. Been Boxer Family Professor of Law and Director, Furman Center for Real Estate and Urban Policy, New York University School of Law
Howard Kunreuther James G. Dinan Professor and Co-Director, Risk Management and Decision Processes Center, The Wharton School, University of Pennsylvania
Anne Siders Associate Director, Center for Climate Change Law, Columbia Law School
Michael B. Gerrard Andrew Sabin Professor of Professional Practice and Director, Center for Climate Change Law, Columbia Law School