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Travelers Helps Form Coastal Storms Coalition


Posted on 27 Apr 2009

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A new coalition that includes The Travelers Cos. and other insurers, public officials, builders and conservation groups revealed a blueprint for action Thursday to reduce economic damage, including insurance claims, from U.S. coastal storms.

The blueprint, focused on adapting to changing climate trends, recommends requiring risk-based land-use planning, improving building code standards to meet future risk and maintaining a "viable property and casualty insurance market."

Private insurers must be allowed to continue charging rates based on risk, and the government should subsidize premiums for owners of existing coastal properties who cannot afford steeply rising premiums, the blueprint says. More information is available online at ceres.org.