"Catastrophic risk is different." So concludes an important opinion out of the Maryland Court of Special Appeals filed earlier this month.  In the case of first impression, People's Insurance Counsel Division v. Allstate Insurance Company, the court affirmed the primacy of models and business judgment in the writing of insurance, and further recognized that there is a "gaping difference between ordinary insurance risk and catastrophe risk." The case stems from the decision way back in 2006 by Allstate to advise the Maryland Insurance Administration (MIA) that it did not intend to wr...

It appears that the sponsors of the legislation recognized that behavioral change is more likely to occur successfully when positive reinforcement is provided rather than simply mandating compliance with change.  To that end the proposed legislation seeks to create positive financial incentives to spur private development projects that would reduce stormwater runoff through the use of Green or Blue roofs.A3682:  Would provide low interest loans to private parties to build green or blue roofsMany jurisdictions provide financial incentives for “Green” or sustainable design ...

Yesterday we discussed the proposed legislative response in New Jersey to the problems of flooding and stormwater management.  Some have speculated that increasing frequency and severity of flooding and stormwater is a by-product of climate change, and certainly these events are consistent with climate change.  Other studies have pointed to the decreasing amount of pervious cover in urban areas as increasing stormwater runoff.  Regardless of the causes, the problem is quite real.  Although the legislation is pending in New Jersey the problems are not unique to this Sta...

Yesterday I had a negative experience that caused me to think about some of the practical consequences of climate change.  Instead of taking my usual route home, I and many others were forced to use an alternate route because a major state highway was closed due to flooding from an adjacent river.  This condition will exist for several days, and its occurrence has been increasing in frequency and severity within the last ten years.  Worse than that inconvenience to me and other drivers is the flooding of homes and business that occurs with greater regularity in my area of New Je...