Hurricane Matthew devastated a small town in South Carolina called Nichols, pictured above, that sits more than 40 miles from the coastline. At the intersection of 2 rivers, the little town lost 6 churches and 22 business. And of course flood insurance was not part of the coverage plans.
We need a solution for these catastrophes. I propose a government held dedicated disaster trust in which everyone receives coverage for disasters like flood. If the 137 million people filing tax returns includes $10 with their returns, the trust would be funded with $1.37 billion annually into a trust to pay the cost of these unexpected disasters. Global warming is clearly ratcheting up storm frequency and severity, we need to take a new approach to safeguarding assets.