Fighting fires with “forest resilience” bonds
The rocky Yuba River meanders in a remote corner of California. It’s here that insurers, environmentalists and venture capital firms are joining forces to create a “Forest Resilience Bond” aimed at solving a multibillion-dollar problem plaguing the wildfire-ravaged state.
Nearly 100 people have died and 1,000 are unaccounted for from the two most recent mega-fires, both of which remain active. And in what the Association of International Fire Chiefs now calls “a year-round fire season” for this and other tinderbox states, more destructive blazes are all but a certainty.
Rain could cause ash flows in town devastated by Camp Fire
California throws lifeline to PG&E over potential Camp Fire liability
One major factor behind the fires: an overabundance of dry brush from a seven-year drought and millions of dead trees from an influx of bark beetles – none of…
Is your business prepared for disasters?
Disasters take many forms — tornadoes, hurricanes, fires, floods, acts of terrorism, major IT malfunctions, legal issues, competition, labor issues, etc. While not every business will suffer through a disaster, every business needs to be prepared in the event a disaster occurs, because according to Geary Sikich, principal, Logical Management Systems Corp., 50% of businesses cease operation following a major disruption.
The goal of every business owner should be to have a plan to ensure that the business continues operation in the event of a disaster. Speaking at a recent NationaLease meeting…