Extreme Weather: Who Foots the Bill?
Extreme weather events are becoming more common, more destructive, and much more costly
The trail of wrecked buildings, overturned cars, and broken boats in the wake of hurricanes Harvey and Irma have reminded the world of the ferocious power of nature. Extreme weather events are becoming more common, more destructive, and much more costly. So who foots the bill to pick up the pieces? The global insurance industry is unable to cover the mounting losses. Meanwhile, governments hesitate to make taxpayers plug the growing gap between damage and the cost of repair. There is also hot debate over to what extent climate change is to blame and by extension what responsibility big industry and the developed world carry. This week on Newshour Extra Owen Bennett Jones and a panel of expert guests looks at how we are going to pay the price that comes with extreme weather.
(Photo: A woman walks on a street on the French Caribbean island of Saint-Martin after it was hit by Hurricane Irma. Credit: Getty Images)
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Storm damage costs are spiraling
Duration: 01:06
Contributors
Stefan Dercon - professor of economic policy, Blavatnik School of Government, Oxford University. He's also chief economist atΒ the UK Department of International Development.
Cailin Birch - senior commodities analyst at the Economist Intelligence Unit
Richard Dudley - CEO of the Global Broking Centre for the international insurance broker Aon
Jamie White - director of research at the market-orientated Institute of Economic Affairs in London
Broadcasts
- Fri 15 Sep 2017 08:06GMTΒι¶ΉΤΌΕΔ World Service except News Internet
- Fri 15 Sep 2017 17:06GMTΒι¶ΉΤΌΕΔ World Service Australasia
- Fri 15 Sep 2017 23:06GMTΒι¶ΉΤΌΕΔ World Service except News Internet
- Sat 16 Sep 2017 03:06GMTΒι¶ΉΤΌΕΔ World Service except Australasia & News Internet
- Sat 16 Sep 2017 11:06GMTΒι¶ΉΤΌΕΔ World Service except Americas and the Caribbean, East and Southern Africa, News Internet & West and Central Africa
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Global experts and decision makers discuss, debate and analyse a key news story.