Two officials are pushing for legislative action that would protect New York from a major catastrophe, according to a release by ProtectingNewYork.org, part of the national coalition ProtectingAmerica.org, which was formed last year to improve the way America prepares for and protects itself from a catastrophe.

According to a statement, New York City public advocate Betsy Gotbaum and Manhattan borough president Scott Stringer joined former FEMA director James Lee Witt in urging the state capitol to set up a catastrophe insurance fund that would protect the state's natural catastrophe victims, provide more funding for first responders, and mitigate potential damage through better planning and improved consumer education.

“New York, like so many other states, is exposed and unprotected from the ravages of a major hurricane or other catastrophic event,” said Witt. “The human and financial costs of a major hurricane making a direct hit on New York City would be enormous,”

According to a 1995 U.S. Army Corps of Engineers Metro New York Hurricane Transportation study, a Category 4 hurricane would put JFK Airport under 20 feet of water and submerge vast portions of Long Island for days. Damages from such a storm could exceed $100 billion.

“New York City, according to the U.S. Army Corps of Engineers, is the third most vulnerable U.S. city for a hurricane disaster,” said Stringer. “The rebuilding process and recovery efforts from a disaster can be just as important as the initial hours of response. The state legislature needs to act now so that New York is best prepared to respond and recover.”

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.