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At war with the Weather

How much money are you willing to lose when the next catastrophe strikes?

Despite record losses from hurricanes and other recent natural disasters, many still think we can continue to gamble with Mother Nature and win. But we have now reached a breaking point because of the increasing concentration of population and activities in high-risk coastal regions of the country.

Not convinced? Twenty of the 30 most expensive insured catastrophes worldwide from 1970 to 2011 have occurred since 2001 — and 13 of them were in the United States. Damages from "Superstorm" Sandy in 2012 are estimated at nearly $65 billion dollars.

The question is not whether future catastrophes will occur but when -- and who will pay for them.

At War with the Weather invites the reader—individuals, business decision makers and government policymakers alike—to a groundbreaking examination into how we currently think about catastrophes, (mis)manage risks, and how financial recovery from natural disasters in the United States must radically change.

Based on empirical evidence, Kunreuther and Michel-Kerjan with their colleagues demonstrate how, by developing innovative and sustainable solutions, it is possible to win the war against the weather.