I am blogging because Texas, and other coastal states, have set themselves up for disaster by engineering flimsy legal and financial regimes to address the risks of tropical cyclones. I read accounts in the press or on the Internet that are based on incredible misinformation and wishful thinking that nature will not respect. I see many politicians in a cycle of untruths with their constituents that leave coastal residents and businesses at significant risk of a catastrophe. Selfishly, I know that I, a semi-coastal resident, will be asked, one way or another to help pick up the pieces in an expensive way if a major storm hits a densely populated part of the Texas Coast.
I am also blogging because, immodestly, I have considerable expertise in this area and can’t just submit every thought to the Houston Chronicle and hope that they publish it. As a law professor at the University of Houston Law Center with a deep interest in actuarial science and finance, I’ve studied the legal and financial operations of the Texas Windstorm Insurance Association for many years.
Finally, I guess I am blogging because I want to give some courage to people who want to look at the Texas insurance scene with an open mind. I have seen one Texas political figure, Insurance Commissioner Eleanor Kitzman, vilified by many coastal politicians and residents for daring to tell the truth about the risks now being run. That is just wrong. We say we want politicians to tell us the truth. But do we really? So, my hope is to give useful information and analysis to people who dare to look without prejudice at Texas windstorm situation.
I’ll be using several tools to present information. WordPress supports text and pictures and all the usual stuff. I’ll use those modes of expression to the best of my ability. But it also supports interactive tools (CDF technology) that let you, the reader, really explore the situation and make up your own mind. And, ultimately, I suspect that is how we will all learn best.
So, enjoy, read and think.