Water Scarcity Means Risks for the Enterprise and Public Sectors

Texas, along with other states and regions of the country, is experiencing an historic drought. In addition to the wildfires that caused billions in damage around the state last year, drought conditions have caused critical water shortages. Small towns and water-intensive industries have been particularly hard-hit. Public sector functions, particularly public utilities, are often the first to feel the effects of water scarcity. The risk quickly moves into the private sector, affecting industries like agriculture and, eventually, any business that relies on running water. Recent reports suggest that much of the private sector has not planned for the risks associated with water scarcity. Businesses that rely on available water may suffer, as may those that invest in utilities and other water-dependent enterprises.

According to the Texas Water Development Board (TWDB), drought conditions currently affect all regions of the state. The various indices of drought conditions, precipitation, and fire risk range from above average to extreme. The Edwards Plateau, which encompasses most of the Texas Hill Country and includes the city of Austin, is experiencing a “moderate” drought on the TWDB’s scale. The crop moisture index for the region is “severely dry,” just below the highest index of “extremely dry,” and the region is at high risk for fire.

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Austin Young Lawyers’ Association Fundraiser: “Judges for Joplin”

The Austin Young Lawyers’ Association (“AYLA”) is planning a fundraiser for lawyers affected by the tornado in Joplin, Mo.  The fundraiser is similar to last year’s beer tasting with judges event, except this year we will have the explicit humanitarian goal of raising money for the tornado victims.

You may be asking: “why a fundraiser for lawyers?”

It’s simple, really.  In a small city like Joplin, you have a lot of small firms and solo practices.  While organizations like FEMA and the Red Cross are providing disaster relief aid, it’s unlikely that they are helping attorneys with disaster recovery of their practices.  Even with business interruption coverage, lawyers will need plenty of assistance to their practices up and running.  And, lawyers don’t work in a vacuum. When a law practice is destroyed by a natural disaster, its clients suffer as well. The lawyers we want to help are professionals working to help people and businesses in the same disaster stricken area.  In the wake of a natural disaster, the citizens of Joplin will undoubtedly need representation to help with insurance claims and probate issues, as well as a continuation of handling cases and claims already in process before the tornado struck.

Lawyers do a lot of things which make civil society function, and helping the lawyers of Joplin means helping the people of Joplin get back on their feet.  It’s a $20 donation to get in the door and drink some beer with judges.  However, please give whatever you can in order to help with AYLA’s humanitarian outreach.

–Dave Floyd

CEO & General Counsel

Prism Risk Management, LLC