We currently pay insurance companies to pay damages after destructive floods .So this flood has a value or price attached to it many , many billions in some instances . I suggest scrutinising historical flood locations around the world to see in how many can be possible avoided , if insurance companies pay with some assistance from the government .To put in dams , levies etc . This gets charged in rate increases for a minimum level insurance through rates so people can't dodge paying for it . If insurance companies get it right they pocket the money for not having the flood damage your properties that they would have had to pay out . Maybe under this new paradigm New Orleans or Brisbane floods may not happen next time ? With water being a sought after commodity in many areas the insurance companies sell the water with the trade off between current water value and available dam reserve to mitigate said flood to be managed by them.
24 Mar 2017, 2:40 am
