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Experts, regulatory capture, and the “governor's dilemma”: The politics of hurricane risk science and insurance

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  • Jessica Weinkle

Abstract

Using historical context and brief case studies of hurricane risk science, this article illustrates the intimate relationship between the insurance industry and scientific researchers largely assumed to be external to the industry. This paper argues that the extent to which the insurance industry directs, funds, and validates the production and use of science for estimating risk is itself a full blown political enterprise that functions to prioritize industry interests in views of hurricane risk and potentially narrow the broader discussion of disaster losses to the single solution of insurance pricing. The situation presents what has recently been termed the “governor's dilemma.” Regulators face losing control over industry's influence on understandings of society's hurricane risk; at the same time, greater control over the research effort may stymie advancement in knowledge needed for effective risk management.

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  • Jessica Weinkle, 2020. "Experts, regulatory capture, and the “governor's dilemma”: The politics of hurricane risk science and insurance," Regulation & Governance, John Wiley & Sons, vol. 14(4), pages 637-652, October.
    • Handle: RePEc:wly:reggov:v:14:y:2020:i:4:p:637-652
    DOI: 10.1111/rego.12255
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    References listed on IDEAS

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    1. Peter Gluckman & James Wilsdon, 2016. "From paradox to principles: where next for scientific advice to governments?," Palgrave Communications, Palgrave Macmillan, vol. 2(1), pages 1-4, December.
    2. Anthony Michaels & Ann Close & David Malmquist & Anthony Knap, 1997. "Climate science and insurance risk," Nature, Nature, vol. 389(6648), pages 225-227, September.
    3. Shobita Parthasarathy, 2010. "Breaking the expertise barrier: understanding activist strategies in science and technology policy domains," Science and Public Policy, Oxford University Press, vol. 37(5), pages 355-367, June.
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    Cited by:

    1. Georg Rilinger, 2023. "Who captures whom? Regulatory misperceptions and the timing of cognitive capture," Regulation & Governance, John Wiley & Sons, vol. 17(1), pages 43-60, January.

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