Exploring ways insurance companies can assist individuals in safeguarding their homes from natural disasters and the complex decisions individuals face regarding relocation or protective measures in disaster-prone regions.
As climate risks grow, some private home insurance providers are retreating from US regions most vulnerable to catastrophe. And homeowners who can’t get coverage through the private market are increasingly turning to insurance “plans of last resort,” created by states.
The amount of liability taken on by these types of insurance plans is staggering, and growing: by some estimates, they’re holding more than $1 trillion of risk.
On today’s Big Take podcast, climate reporter Leslie Kaufman and California reporter Nadia Lopez share an investigation into how skyrocketing enrollment in state-created plans could create the conditions for a financial crisis.
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