Benjamin Keys, a Professor of Real Estate and Finance at the Wharton School, dives into how California's wildfires have wreaked havoc on the state's insurance market. He explains the escalating costs of insurance and the risks homeowners face, as well as the looming financial crisis for insurers. The discussion highlights the intricate relationship between rising insurance costs, home values, and regional banking stability. Keys also sheds light on federal flood insurance and the need for proactive measures in the face of climate change.