Rick Dreyfuss, a senior fellow with free-market think tank Commonwealth Foundation, said most public pension funds are diversifying their portfolios with different types of asset classes. Recent Natural Disasters 2013: This natural disaster list covers important natural disasters in the world with detail update report.
That portfolio covers a range of securities related to reinsurance and weather risk, meant to back insurance companies in the event of a natural disaster. The major natural disasters are linked to definite page containing update report on that disaster. HARRISBURG — One of Pennsylvania’s pension funds hedged against the likelihood of a natural disaster on the East Coast, such as Hurricane Sandy. Despite the obscurity, cat bonds are attractive to investors in the sense that risks and returns aren’t connected to the volatility of the rest of the financial marketplace.
The Johnstown Flood still is remembered as one of the biggest accidents and tragic disasters in American history. Pennsylvania's rich coal mining heritage has led to many mining accidents over the years, but the Darr Mine Disaster is remembered as the worst in the state's history. Pennsylvania sees the occasional tornado, however thanks to its mountainous terrain, usually does not see them that severe or that often. Last week, a subcommittee of the House of Representatives Committee on Small Business held a hearing on the Disaster Loan Fairness Act (H.R. The bill would set the interest rates for the Small Business Administration’s (SBA) disaster loans—including home disaster loans, business physical disaster loans, and economic injury disaster loans—at 1 percent for eligible applicants in declared disaster areas, compared to higher interest rates offered by SBA under current law.
By providing more generous benefits, the Disaster Loan Fairness Act presents a moral hazard problem and does nothing to reduce the over-reliance of state and local governments on the federal government for the provision of recovery assistance. The witness called to testify in support of the bill, Gino Tighe of GT Fabrication in Pittston, Pennsylvania, unwittingly made the case that the state and local governments are often the best at providing recovery assistance after natural disasters occur. Instead of considering legislation like the Disaster Loan Fairness Act, Congress should focus on reforms that make America more resilient to catastrophes and reduce recovery costs imposed on the federal taxpayer. Pennsylvania Independent is a public interest journalism project dedicated to promoting open, transparent, and accountable state government by reporting on the activities of agencies, bureaucracies, and politicians in the Commonwealth of Pennsylvania.


Sinkhole in Harrisburg, Pennsylvania-Around 30 houses evacuated due to sinkhole in Harrisburg, Pennsylvania.-Emergency center is set up by American Red Cross at Pine Street Presbyterian Church, 234 South St. One form of that is a catastrophe bond, or cat bond, a type of security that reimburses insurers after they incur major losses in a natural disaster. Evelyn Tatkovski, PSERS press secretary, said early indications are that the fund’s reinvestment investments did not incur material losses. The unpredictability of mother nature and the fallibility of mankind means that every once in a while, our day-to-day lives come to a stop when we either find ourselves at the mercy of a tragic incident, or when we stand in solidarity to witness a disaster in the news. Thanks to the bravery of the passengers on board who revolted against the highjackers, the plane crashed into a field in Somerset County, PA, rather than reaching its intended destination. The storm produced snowfall between 20-60 inches and gale force winds throughout the northeast and left 50-foot high snowdrifts in certain areas. We can hope that these disasters remain the worst in our state’s history, and that we have learned from some past mistakes through improved safety regulations and emergency preparedness. Far too frequently, the federal government has been the primary source of recovery efforts for natural disasters that are inherently localized in small geographic areas and do not rise to the level that should require action by the federal government. The federal government can no longer afford to pay for disaster relief best handled by local governments. He actually made the case that passage of the Disaster Loan Fairness Act is an unnecessary expansion of the federal government’s already over-expanded role in localized natural disasters that are best handled by state and local governments. The portfolio had $387 million in assets under management before Pennsylvania invested, according to the presentation. National Disaster Management Office in Fiji has extended a state of natural disaster declared after Cyclone Evan for a week. In that interview, Schauble said investors often consider their weather-related investments as a separate asset class, because they are not directly attached to traditional markets. Such devastation takes on an even more poignant note when it occurs close to home, though often the community response helps to alleviate the pain and loss felt by those directly affected by the disaster. Pennsylvania faced worse destruction than any other state, with torrential downpour and dramatic flooding from the Susquehanna and Lackawanna Rivers.


A memorial to the Darr Mine Disaster stands at the site, near Smithton in Westmoreland County. The smoking ground is unstable and unsafe--- as a result, the area is now an uninhabited ghost town. Sponsored by Representative Lou Barletta (R–PA), the bill does not provide the necessary reform to our nation’s disaster prevention and recovery programs.
Indeed, federal disaster declarations that bring an infusion of federal taxpayer dollars for disaster relief have become a political tool. The major natural disasters are linked to definite page containing update report on that disaster. A daily natural disasters list (published everyday) includes details of all (almost) natural disasters occurred worldwide. From floods to fires, nuclear meltdowns to mine explosions, here are the worst disasters that have occurred in the state of Pennsylvania. The disaster incurred millions of dollars in damages and its victims were unsuccessful in recovering legal damages from the dam's owners. Over 100,000 people had to evacuate from homes that were covered by thirteen feet of water in some areas-- after the hurricane, more than 220,000 Pennsylvanians were left homeless.
For example, the number of Federal Emergency Management Agency (FEMA) disaster declarations is significantly higher in election years compared to non-election years. The natural disaster data are collected from different sources like USGS, EMSC, GDACS, EDIS..
Donora is also home to "Cement City," a neighborhood whose houses are built from pre-formed and poured concrete.



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