New Jersey can do a better job preparing its citizens for and protecting them from catastrophe

Most New Jerseyans are in denial, thinking that a major hurricane cannot strike their home.  Unfortunately, the risk of a major hurricane striking New Jersey is all too real.

The risk is even greater when people are in denial and not taking the necessary steps to prepare their home or business for catastrophe.  New Jerseyans must be proactive and do more now, before the fact, rather than waiting for the next catastrophe to strike.

Being the most densely populated state in the Union, development in the state has exploded to make room for all of its residents.  In particular, coastal development has increased substantially, and with the real risk of hurricanes looming, it is time for New Jersey to limit development in the most high-risk areas.

Encouraging and enforcing stronger building codes will also help minimize damage and speed recovery in the case of catastrophe.  In the long run, the upfront costs of building to code are an investment in the future.  For every dollar put into mitigation, we can save $3 to $5 in future losses. Stronger building codes, enforcement, education, planning and preparedness will save lives, reduce property losses and protect neighborhoods from the damage of future catastrophe.

In the case of a mega-catastrophe, like the 'Great Atlantic Hurricane' of 1944, New Jersey will undoubtedly turn to the federal government for financial recovery assistance.  Rather than waiting for a crisis and reacting to an emergency, ProtectingNewJersey.org believes lawmakers should make it a top priority to create a comprehensive, catastrophe management solution now.  This solution, which includes a state catastrophe fund financed by private insurance premium dollars, will help protect consumers and ensure that basic, competitive coverage will exist for them.

The fund will grow tax free, and its monies can only be used to help pay claims for a mega-catastrophe.  Interest earnings of the fund could be used to improve consumer protection and education programs to make sure people are better prepared for catastrophes.  A portion could also be used to strengthen prevention and mitigation programs through stronger building codes and better enforcement, and strengthen first responders - all of which can save lives and better protect property.

The New Jersey State Catastrophe Fund will integrate the most effective components of the Florida Hurricane Catastrophe Fund and the California Earthquake Authority, both of which have helped avoid a collapse of their state insurance markets in the wake of major catastrophes.

Learn more details regarding a comprehensive, integrated solution, including strengthening first responders, preventing and mitigating problems through stronger building codes and consumer education, and advocating for a financial backstop.