Insurance
Swiss Re CEO urges ‘risk transformation’ as Hurricane Melissa causes costly impact

Rising costs, widening protection gaps in focus after Hurricane Melissa
Berger cited the transformation of New Orleans after Hurricane Katrina in 2005 as a landmark example. The U.S. government invested $14.6 billion in levees, pumps and flood walls, while also enacting stricter land use and building codes. He said the system “passed its first big test” when Hurricane Ida hit in 2021, preventing catastrophic flooding.




