Big Take
Insurers Are Struggling to Keep Up With Disasters Like Helene and Milton
Oct 14, 2024
Leslie Kaufman, a Bloomberg Green reporter specializing in climate and insurance, discusses the catastrophic aftermath of Hurricanes Helene and Milton. She highlights the staggering financial toll of over $100 billion on recovery efforts and critiques the inadequacy of FEMA's flood support. The conversation reveals the insurance industry's struggle with rising storm risks and emphasizes the urgent need for updated flood risk assessments. Kaufman urges homeowners to stay informed and prepared in this era of increasing natural disasters.
13:23
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The increasing frequency and severity of hurricanes like Helene and Milton highlight the urgent need for updated flood risk assessments and insurance policies.
- Homeowners are inadequately protected due to declining insurance coverage and outdated FEMA maps, emphasizing the importance of risk awareness and proactive insurance management.
Deep dives
The Impact of Recent Hurricanes
Hurricane Helene and Hurricane Milton recently devastated the southeastern United States, causing catastrophic flooding and widespread destruction. Helene resulted in severe flooding in North Carolina, with historical levels not seen in a century and estimated damages surpassing $100 billion. In the aftermath, loss of power and community destruction left millions affected, leading to a reported over 200 fatalities. While Milton brought powerful winds and flooding to areas like Florida, only a few deaths were recorded, indicating a slight easing compared to Helene, yet the recovery challenges remain significant.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
