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The University of Southampton
Insurance Law Research Group

Insurance law guest lecture Event

26 June 2015
Highfield Campus, room 02/3043

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Event details

Professor Donald Hornstein of the University of North Carolina will give a guest lecture at the University of Southampton. The title is: Coastal Weather Disasters and Insurance Finance, Implementation and Mitigation: A Report from the Climate-Change Weeds in the United States

Speaker information

Professor Donald Hornstein,University of North Carolina,holds the Aubrey L. Brooks Chair in Law at the University of North Carolina where, among other things, he teaches Insurance Law. Since 2010, Professor Hornstein has served as a member of the Board of Directors of the North Carolina Insurance Underwriting Association, a $500 million nonprofit corporation that insures over 70% of all property at the North Carolina coast. There, he helps design the Association’s reinsurance and cat-bond-finance programs, and chairs the Association’s new mitigation committee. ABOUT THE LECTURE: Insurance against weather catastrophes in the US is famously balkanized into distinct “wind” and “water” insurance pools. Yet one can find in recent reforms to both types of insurance some surprising battlegrounds over insurance finance, climate-change politics, and the prospects for progressive change to land-use policy. Although much attention is given to recent political battles in the US over federal flood insurance, in this talk Professor Hornstein points to two lesser-known programs – the “weeds” of the federal NFIP system – that reflect where the real battlegrounds are, or may be, taking shape. So too as to hurricane-wind insurance, which operates at the state level in the US, recent changes in the financial structures of state-run residual risk pools demonstrate the tension between progressive financial structures and the faux-financial gimmicks of subsidized public giveaways.

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