Building a Resilience Culture: Preparing for the Inevitable

The Repeated Surprises of Disasters

Texas's recent experience with severe winter weather, which left over 14 million people in 160 counties without power and water, serves as a stark reminder of the government's failure to prepare for catastrophes. This 'rolling disaster' is not an isolated incident; it joins a list of government failures, including the inadequate response to Hurricane Katrina and the 9/11 terrorist attacks. These events, though often predicted, are repeatedly 'surprising' due to a lack of proactive investment in crisis prevention.

The Cost of Inaction

The human and economic toll of such unpreparedness is immense. According to a report by the National Oceanic and Atmospheric Administration (NOAA), the U.S. has experienced 299 weather and climate disasters since 1980, with overall costs exceeding $1.875 trillion. Despite these staggering numbers, there is little political incentive to invest in resilience measures. For instance, Texas's independent and lightly regulated energy system could have been better prepared with cold-proofing investments, potentially mitigating much of the suffering.

A Call for a Resilience Culture

Instead of assigning blame, it is crucial to foster a culture of resilience. Organizations like the Insurance Information Institute (Triple-I) are leading the way by curating data and sharing best practices through initiatives like the Resilience Accelerator and the Joint Industry Forum. These efforts aim to educate and prepare communities for the inevitable. Sean Kevelighan, Triple-I CEO, emphasizes that the younger generation is increasingly recognizing the importance of risk management, turning to insurance as a solution for a more resilient world.

To prepare for future disasters, consider investing in insurance policies that cover a wide range of risks, including natural disasters and infrastructure vulnerabilities. Stay informed about local and global risk management trends and participate in community resilience programs. By taking these steps, you can contribute to a more prepared and resilient society.