Building Worldwide Flood Resilience Should Trump Emergency Reaction: Zurich
June 16, 2014
The article, ”Building Worldwide Flood Resilience Should Trump Emergency Reaction: Zurich,” discusses a new research paper from Zurich Insurance Group Ltd. that calls for greater emphasis on building flood resilience rather than emergency recovery in order to prevent risks before floods actually occur.
For Professor Michel-Kerjan, “that sounds pretty obvious.” He adds, “If you’re driving your car you want to prevent an accident. But for various behavioral reasons people tend to say, ‘It’s not going to happen to me.’”
Professor Michel-Kerjan argues that the answer is to halt development in high risk areas. “We’re saying if you have to develop in high risk areas make sure you do it in a resilient manner. That’s a change in mindset,” he concludes.