(Photo by Dominika Zarzycka/NurPhoto via Getty Images) Climate change has raised the cost of natural disasters, as rising sea levels and drought increase the frequency and severity of flooding and wildfires, insurers and risk modelling experts say. The list of the 10 most expensive events of the last decade provided to Reuters by risk modelling firm RMS all took place over the past five years. While the biggest losses are in richer countries with more expensive assets, developing countries such as Pakistan, which suffered flooding this year that cost an estimated $3 billion, often bear the brunt of damaging weather events. How to get money to poorer countries after climate disasters has been a dominant theme at the COP27 climate talks in Egypt, and insurance is seen as one way to do that. On Monday, a G7-led plan dubbed "Global Shield" to provide pre-arranged insurance and disaster protection funding to countries suffering climate disasters was launched at the climate … [Read more...] about Factbox-COP27: Counting the rising cost of climate disasters
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Share to Twitter Share to Linkedin Houston, we have an ESG problem. Or do we? From an ESG-risk perspective, between the weather and petroleum-dependent economy, the City of Houston, Texas would appear to have some major problems. Of the two, the weather has been the most visible. For Houston, on Galveston Bay off the Gulf of Mexico, geography is destiny. The city gets hit regularly by tropical storms. According to NOAA's National Centers for Environmental Information , there were 96 days with at least one report of flooding or flash flooding in Harris County from 1996 through 2015. This equates to an average of four to five days of flooding each year over that time period. It’s been this way for the city since day one. Founded in 1836 by the Allen brothers, the town was established at the confluence of Buffalo and White Oak bayous. Shortly thereafter, every structure in the new settlement flooded. The issue hasn’t changed much since. … [Read more...] about Municipal Bonds And ESG: All Hat, No Cattle
Share to Twitter Share to Linkedin Veteran NHL forward Max Pacioretty, who this summer was traded by the Vegas Golden Knights to the Carolina Hurricanes, has listed his home in the Summerlin area of Las Vegas for sale at $11.999 million . The sophisticated single-story, custom built in 2018 and reimagined since then, sits on a half-acre lot in one of Summerlin’s most desirable and sought-after neighborhoods, according to listing agent Madison Blau Benshimon of IS LUXURY . “The Ridges in Summerlin is an exclusive neighborhood, comprised of smaller subdivisions, which is known to have some of the finest properties Las Vegas has to offer,” Blau Benshimon shares. “The Indigo community, in particular, is extremely desirable as it’s one the newest and smallest subdivisions in The Ridges containing only 28 custom single-story-restricted homesites.” MORE FROM FORBES Vegas Colors Up To Ultra-High Luxury Homes By R. Daniel Foster … [Read more...] about NHL Forward Max Pacioretty Lists Las Vegas Home For $12 Million
Share to Twitter Share to Linkedin Cars wait in line for fuel at a Gulf gas station on November 1, 2012 in Fort Lee, New Jersey. (Image ... [+] credit: AFP/Getty Images via @daylife) The refrain is the same after every natural disaster: market conditions have changed dramatically, and evil, possibly sub-human "price gougers" are taking advantage of storm victims in their time of need. Politicians threaten those who raise prices after storms with vigorous prosecution. The general public howls with outrage. A lot of people think laws against "price gouging" are necessary to keep people from being exploited after natural disasters. Sadly, these people are wrong. I got to make these points on Thursday's episode of Stossel . Laws against price gouging create shortages. In the aftermath of a disaster like Hurricane Sandy, people want a lot more gasoline, flashlights, bread, and water at any given price. For sellers, costs have risen. It may … [Read more...] about Want to End Sandy Shortages? Let Gougers Gouge!
Share to Twitter Share to Linkedin When carefully considered, stocking stuffers have the potential to outshine big-ticket presents. So let this curated guide of 15 giftables gently priced under $50 come to the rescue this holiday season. Despite bring small enough to stuff into a stocking, every item here punches well above its weight when it comes to usefulness, style, and fun—proving some of the best things in life come in little packages. Kato Mokko Wooden Cutlery, $20 Have you ever laid eyes on a more whimsical set of cutlery ? Exclusive to Takamichi Beauty Room, a New York City boutique renowned for exceptionally chic and eco-friendly finds, this portable, reusable, and handmade fork-and-spoon duo handmade in Japan with magnolia wood will last for years to come. It will be enthusiastically received by children and those who are still young at art, too. Fer A Cheval Cicada Marseille Soap On Rope, $9 Elevate your bath and shower routine to new … [Read more...] about Holiday Gift Guide 2022: The Most Stylish Stocking Stuffers For Travelers Under $50
Share to Twitter Share to Linkedin It’s common knowledge in real estate circles that Jay Leno and his wife of 40 years, Mavis, bought a Newport, R.I., mansion for $13.5 million in 2017. But the story of how the former Tonight Show host found Seafair, a 15,861-square-foot Louis XIV inspired chateau, is less known. Seafair was designed and built by British architect William Mackenzie Jr. for Vernor Zevola Reed Jr., a banker and heir to a mining fortune. The estate sits on 9 acres and features a slate roof and rubble-stone construction. The home boasts an inimitable crescent-shape design that follows the curve of the land and allows for expansive views of the Atlantic. The gated compound has a tennis court, an infinity pool, a carriage cottage, a six-car garage and private beaches. The main home has 12 bedrooms and 13 bathrooms and features a paneled library, a formal dining room and a chef’s kitchen. In the years before and after Jay Leno … [Read more...] about Jay Leno Opens Up About Buying A $13.5 Million Newport Mansion And Returning To Prime Time
Share to Twitter Share to Linkedin Category 4 Hurricane Dorian, with winds reaching 140 miles per hour , is creeping toward Florida. People are going to need gas, bottled water, plywood, flashlights, and all sorts of other supplies in order to flee the storm and recover from the damage. Florida government officials are working hard to make sure people around Florida and around the world don't get the message, and they've set up a special hotline in order to establish a veritable blockade around the state and keep valuable supplies from getting where they are most urgently needed. You might wonder if that's a misprint. Didn't the governor declare a state of emergency? Didn't he issue an evacuation order? Wouldn't Floridians welcome any help they can get in their time of need? Yes, yes, and yes—but part of the emergency declaration is a rule against price gouging that guarantees resources will be wasted and misallocated. Price gouging laws limit … [Read more...] about Price Gouging Laws Are Knowledge Embargoes That Should Be Repealed
Share to Twitter Share to Linkedin Roy Barak is CEO of Vindicia , a leader in business-to-consumer digital services monetization. There’s a hurricane coming—an “ economic hurricane ,” according to Jamie Dimon, CEO of JPMorgan Chase. Inflation is the highest in decades, many stocks are declining, investors are hunkering down, and consumers? They’re worried. U.S. consumer sentiment has plummeted 41.5% (paywall) this year, a strong indicator that a recession could be on its way. It’s a bleak outlook, but I think it is also the golden moment for subscriptions. I am the CEO of a company that helps with subscription management services, and I’m going to outline some of the benefits of subscriptions—particularly in this difficult economy—followed by some tips for getting started. Subscriptions are a habit. In times of recession, consumers consume less. They often can’t afford the lifestyle they are used to and are watchful of their budget. Yet … [Read more...] about Could Subscriptions Help Your Company Through A Difficult Economy?
Share to Twitter Share to Linkedin Topline NASA’s Artemis 1 mission finally took flight early Wednesday morning, launching a new era of human exploration after months of delays and marking a major milestone on the road to returning astronauts to the moon’s surface. Key Facts NASA sent its Orion spacecraft soaring into space atop its new Space Launch System on a 25-day journey to the moon and back. The rocket, the most powerful to leave Earth, lifted off from its launchpad in Cape Canaveral, Florida. at 1:47 a.m. ET. The successful launch comes after engineers made last-ditch efforts to fix leaks and other technical issues detected hours before launch. Previous launches had already been delayed by technical glitches and a hurricane, pushing the mission back months, and damage caused by Hurricane Nicole also cast doubt on this week’s launch. Artemis 1 is not carrying astronauts to the moon—Orion reportedly carries three … [Read more...] about NASA’s Artemis 1 Mission Finally Takes Off Towards Moon—Another Small Step For Humankind Returning To Lunar Surface
Share to Twitter Share to Linkedin This week marks the one-year anniversary of the signing of the Bipartisan Infrastructure Law. This once-in-a-generation bipartisan law is giving the economy and Main Streets across America a much-needed upgrade by increasing access to reliable high-speed internet to millions of Americans, upgrading airports, ports, and waterways, addressing climate change, and improving the power infrastructure. Making sure the $1.2 trillion in the law is appropriately and effectively administered is no small task. That’s why President Biden brought in Mitch Landrieu as a Senior Advisor for coordinating the implementation of it. He served as lieutenant governor of Louisiana and mayor of New Orleans, leading the rebuilding from Hurricane Katrina and other calamities. I recently had the opportunity to speak with Mayor Landrieu on his efforts to date. I am grateful to him for taking the time and below is our conversation. Rhett Buttle … [Read more...] about Rebuilding The Nation’s Infrastructure: A Conversation With Mayor Mitch Landrieu