Suchergebnisse

Hurricanes & other catastrophic oceanic storms invariably damage coastal property. The rising costs of repairing such damage, which disproportionately affect property owners along the coasts, have prompted these owners to apply for governmental intervention, which they have received. This "solution" for them has raised taxes for other citizens, encouraged further coastal growth, & resulted in greater insurance payouts. This paper explores the areas that have suffered the greatest losses & incurred the highest costs for the ten worst hurricanes in the US from Hugo in 1989 to Katrina in 2005. It also examines government involvement in the coastal property insurance market through the National Flood Insurance Program (NFIP), administered by the Federal Emergency Management Agency (FEMA). Like private insurance companies, NFIP places heavy restrictions on building & post-storm rebuilding for communities that wish to participate & limits what it will pay individual property owners. Even so, NFIP could not meet its Katrina claims. Possible reforms to make NFIP self-sustaining are considered. Tables, References. Adapted from the source document.

Examines private development on barrier islands and factors affecting the success of privatization solutions for protection of environmental resources; focus on the South Carolina coast.

Examines problems such as shoreline erosion, pollution, & environmental damage resulting from the increased development of US coastal areas. Advantages & disadvantages of government- & market-based strategies for managing coastal resources are assessed, with those based on free enterprise seen as more effective. The lack of property rights is seen as crucial to these problems. Specific cases of privatization schemes on the barrier islands of Hilton Head, Seabrook, Kiawah, & Dewees on the SC coast are analyzed. Concern for the environment, changes in land values, large land areas with defined boundaries, limits on decision-making costs & participation, & informed buyers are key to long-term success. 1 Figure, 31 References. T. Arnold