Promoting the conservation of natural resources and encouraging risk mitigation efforts along densely populated U.S. coastlines are the best ways to manage risk and reduce economic losses, the Reinsurance Association of America (RAA), testified this week.
At a hearing Tuesday before the House Subcommittee on Insular Affairs, Oceans and Wildlife on Managing Ocean and Wildlife Resources, Franklin W. Nutter, RAA president said, "The importance of risk management to the conservation of our ocean, coastal ecosystems, and wildlife resources in an increasingly unpredictable environment should be abundantly obvious."
Mr. Nutter continued, that "To the best of our ability, we must use nature to protect ecosystems that provide natural 'buffers' to storms by renewing efforts to preserve coastal areas consistent with effective state and federal laws."
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