Swiss Re chief urges ‘risk transformation’ as Hurricane Melissa deals costly impact

Rising costs, widening protection gap in the spotlight after Hurricane Melissa’s wrath

Berger cited the transformation of New Orleans following Hurricane Katrina in 2005 as a landmark example. The US government invested $14.6 billion in levees, pumps, and flood walls, alongside stronger land-use and building codes. When Hurricane Ida struck in 2021, the system “passed its first major test,” preventing catastrophic flooding, he said.

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