Proposed FDGO
Florida's hurricane season is fast approaching—and with it, the urgent need for transparent, independent scrutiny of the state's disaster governance.
Despite a Comprehensive Emergency Management Plan (CEMP), Florida lacks a system to assess impairment risks and recovery costs, as a modern business would.
We propose a new public-private-partnership fill that critical gap. The working title:
Florida Disaster Governance Observatory (FDGO)
Through a public-private-partnership (P3), it would deliver an annual, transparent Readiness Report evaluating the state's preparedness and financial resilience before storms strike.
It would observe the State from a modern business perspective, where the whole of an asset group may be worth more or less than sum of parts. As a P3, FDGO could rely on the logic of FASB rules on impairment of long-lived assets without questioning GASB. That should build confidence among financial sectors critical to disaster governance, notably reinsurers and bond dealers.
For more, click buttons below.