Posts Tagged ‘flooding’
“With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches”*…

As insurance premiums rise, global warming’s effects are impacting collectors’ bank accounts, especially in disaster-prone states like California and Florida where risky conditions have become the norm…
Art collectors in California, Florida and other states experiencing weather-related disasters aggravated by climate change are finding fine art insurance becoming more expensive, with policies increasingly difficult to obtain (or renew) and containing new restrictions.
Earthquake-prone California, which has faced a series of massive wildfires (often followed by landslides) in recent years, is one epicentre in this struggle to find insurance coverage for homes and the art within them, with the annual cost of homeowners policies rising as much as 40% and the premiums for fine art insurance coverage increasing between 5% and 12%, according to Amee Yunn, assistant vice president of the New York-based Berkley Asset Protection, an insurance company specialising in fine art, jewellery and other high-value, personal and commercial assets. Florida, with its increasingly intense hurricanes and floods, is also a concern for the insurance industry.
“Many wealthy people flocked to Florida due to the pandemic,” Yunn says, “and they took their art with them.” That concentration of wealth assets in areas prone to flooding and hurricane damage creates significant risks to the financial wellbeing of insurance carriers. “We are seeing far more billion-dollar claims now than just 10 years ago,” Yunn says, causing companies like hers to write fewer new policies, increase their prices and add deductibles and exclusions. “The problem is acute.”
…
These days, insurance carriers track the advance of climate change as much as environmental scientists. “We have a corporate catastrophe team, which tracks the company’s total catastrophe exposure,” Yunn says. The risks from tornadoes in the Great Plains, hurricanes up and down the East Coast and earthquakes on the West Coast are well known, but the increasing intensity of hurricanes and tornadoes, as well as the rising numbers of them, are alarming signals. The tornado that ripped through Kentucky and several other states last year in a 200-mile path during the unlikely month of December was yet another sign of a climate that is becoming less predictable, as were a series of hurricanes, wildfires and freezing temperatures that have struck in Texas since 2017. In February 2021 a combination of snow, sleet and freezing rain paralysed Texas’s power grid for weeks, causing more than 200 deaths and nearly $200bn in damage.
“It would seem that there is nowhere safe from the effects of climate change,” [senior managing director at Risk Strategies Steve] Pincus says, all of which impacts the fine art insurance world, leading to higher prices and less available coverage…
“‘The only way to stop the bleeding is to stop writing policies’: climate change is making it more expensive to insure art,” from @TheArtNewspaper.
Via @WaltHickey, in his invaluable Numlock News, who observes “Listen, if ‘boo hoo, it’s getting too expensive to insure my vast art collection’ is the thing that gets rich people to actually care about climate change I’m still gonna take that as a win.”
* Adam Smith
###
As we ponder protection, we might recall that it was in this date in 1885 that the first issue of Good Housekeeping was published. A “woman’s magazine” (featuring articles on women’s interests, recipes, diet, and health), it is also known for its product testing service and its the “Good Housekeeping Seal”, a limited warranty program that is popularly known as the “Good Housekeeping Seal of Approval.” One of the oldest continuously-published magazines in the U.S., it remains popular in its category.
“Managed retreat is not just a last resort. It is not a failure to adapt at all. It is actually an active decision to adapt.”*…
The town of Valmeyer, Illinois relocated decades ago after devastating floods. It may have lessons for communities forced to consider a managed retreat from climate impacts today…
In the summer of 1993, the southwestern Illinois town of Valmeyer took the brunt of a massive flood when, not once but twice in a month, the swollen Mississippi River topped its levee system. The village was engulfed in up to 16ft (5m) of floodwater that lingered for months, damaging some 90% of buildings.
Faced with either rebuilding the town and risking yet another disaster, or simply scattering to other towns or states by themselves, the 900 residents of this tight-knit farming community made a bold choice: to pack up everything and start over on new ground.
In the years that followed, hundreds of people moved out of the floodplain as the entire town was rebuilt from scratch on a bluff a mile uphill. In doing so, the town has become an early example of one of the most radical ways a community can adapt to a warming world: moving people and assets out of harm’s way.
Known as managed retreat, or planned relocation, the approach is often framed as a last resort to be pursued only when no other alternatives exist. But as the effects of climate change intensify, exposing more and more people across the globe to the risk of catastrophic flooding, devastating fires and other calamitous natural hazards, the concept is increasingly making its way into the mainstream as a viable – and necessary – adaptation strategy…
When one can’t resist the effects of climate change (e.g., with a sea wall to hold back rising water levels), or accommodate it (e.g., using air cooling and “greening” to combat rising temperatures), the remaining option is retreat: “The Illinois town that got up and left,” from @BBC_Future.
See also: “Managed Retreat in the United States.”
###
As we rethink relocation, we might recall that it was on this date in 1913 that rain storms led to floodwaters from the Great Miami River reaching Dayton, Ohio– causing the Great Dayton Flood, which lasted another five days. The volume of water that passed through Dayton during this storm equaled the monthly flow over Niagara Falls; downtown Dayton was submerged up to 20 feet.
More than 360 people died; 65,000 were displaced; nearly 1,400 horses and 2,000 other domestic animals died. 20,000 homes were destroyed and buildings were moved off of their foundations. Property damage to homes, businesses, factories, and railroads was estimated at more than $100 million in 1913 dollars (more than $2 billion in today’s dollars).
“Water, water everywhere”*…

On November 14, 2016, six days after Donald Trump was elected president, a man named Richard Conlin found an octopus in the parking garage of his Miami Beach apartment building. The translucent creature, which a viral photo showed sitting in a small puddle by a row of cars, had been brought ashore by an unusually large high tide that sent sludgy water rushing through nearby streets. A local biologist speculated that the octopus had found its way inside one of the apartment building’s drainage pipes: the pipes had been positioned well above the waterline when the condo complex was constructed, but rising sea levels meant they were now submerged at high tide, allowing aquatic creatures to make their way inside. (Conlin wrote on Facebook that he spotted a small school of fish swimming in another puddle.)
The octopus makes for an apt little parable not just about the extent to which climate change is already changing daily life in the United States, but about the way in which it is doing so. The cephalopod did not arrive in the parking garage Day After Tomorrow-style, on the crest of an apocalyptic wave, but by means of a crucial yet neglected piece of infrastructure. The alarming fact the octopus represents is not that the ocean threatens to destroy us, but that it threatens to destroy the structures we have built in its midst.
Miami, as you may have heard, is doomed: depending on which study you prefer, the city will be underwater by 2100, 2060, 2050, or whenever the next hurricane hits. It is poised to see two, five, eight, ten, or twelve feet of sea-level rise in the next century. Even numbers on the low end of that range would be enough to inundate Conlin’s apartment building, not to mention billions more dollars of real estate. Tidal flooding events of the kind that brought the octopus ashore increased by more than 400 percent between 2006 and 2013, and the city has only barely been spared by a number of major hurricanes in that same time span. The right storm—The Big One, as they call it in Florida—could raze whole swaths of Miami, send its property market and tourism industry into a death spiral, and spur a mass exodus of domestic climate refugees. Even in the absence of such a storm, the city’s lowest-lying neighborhoods may need to be abandoned by midcentury if the rest of it is to be preserved…
The coming scramble for free space won’t be as bad as it could have been, though, because many of the most vulnerable homes in the city don’t have anyone living in them in the first place. The glistening condo towers that make up the high end of Miami’s housing market serve predominantly as parking lots for foreign capital, much of it of dubious origin. The absentee ownership rate in many of these buildings is well above 50 percent, and even as the streets of Miami Beach begin to flood, the emirs and mafiosi who own these apartments will be somewhat insulated from the crash in the rest of the city’s housing market, since the selling point of these condos is not their view of the Biscayne Bay but their ability to serve as storage units for foreign capital.
For everyone who actually lives in Miami, though, it’s going to get ugly, and there isn’t much the city can do about it. [Journalist Mario Alejandro] Ariza opens the book [Disposable City: Miami’s Future on the Shores of Climate Catastrophe] with the image of an enormous water pump designed to flush out water from the streets in the event of a high tide or a hurricane; the city has installed a number of these pumps in the past few years, financing them with a new climate-oriented municipal bond, and has also endeavored to raise dozens of miles of streets. Even if these interventions always worked out, which they don’t—a former mayor of Miami Beach prioritized installing pumps and raising roads near property he owned, inadvertently increasing flooding in nearby businesses he didn’t own—they wouldn’t be enough to forestall a crisis that is coming sooner rather than later. With enough money from the federal government, the city could in theory move the most vulnerable homeowners out of harm’s way before it’s too late, build green infrastructure to absorb floodwaters, and sponsor high-density affordable housing for those who want to stay, but a hat trick in that regard seems unlikely. If sea level rise reaches nine feet by the end of the century, though, none of these interventions will matter: all of Miami and much of South Florida will be underwater. Even if the city doesn’t sink altogether, hundreds of thousands of Miamians will likely be displaced to Orlando, Atlanta, and other nearby cities, none of which are going to feel exactly like paradise in the year 2100…
Miami’s bleak future on the front line of climate change; “The City That Lived.”
And to put it into a broader context: “2020 Is our Last, Best Chance to Save the Planet” and “The Great Climate Migration Has Begun.”
* Samuel Taylor Coleridge, “The Rime of the Ancient Mariner”
###
As we search for a drop to drink, we might spare a thought for a man who successfully manged water in a different physical state, Frank Joseph Zamboni, Jr.; he died on this date in 1988. An engineer and inventor, he is best known for the modern ice resurfacer, seen at work at hockey games and figure skating competitions; indeed, his surname is the registered trademark for these devices.



You must be logged in to post a comment.