May 23, 2013
Can New Jersey Insure Against the Next Sandy?
One of the many creative ideas raised at the recent climate change conference held at Rutgers University, was the prospect of the state of New Jersey, as well as its various municipalities, taking out disaster-specific insurance policies to help guard against the future costs of climate change. Doing so has the potential to defray the costs of sea level rise and extreme weather events similar to Hurricane Sandy, especially for areas along the shore. Innovative insurance policies were just one of many topics covered at the conference, “Climate Change in New Jersey: Leading Practices and Policy Priorities,” as its primary aim was to bring officials and experts together from various fields in order to facilitate the cross-pollination of ideas, according to Associate Director of CECI Marjorie Kaplan.