Cost Of Losses, Lack Of Insurance Compound Storm's Devastation

Carolyn Kousky, executive director at the Wharton Risk Management and Decision Processes Center at the University of Pennsylvania, talks with Alex Wagner about the the challenges individuals face in covering the costs of devastating storms, a growing problem as exceptional weather events increase in frequency with climate change.


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#HurricaneIan #Florida #ClimateChange

[jhoigaar]

Why would people be allowed to build a home on a BARRIER It's supposed to be a barrier for a

[LogicAndReason]

Even children understand that when you build castles of sand at the beach, they wash out with the tide.

[uwcndty]

if you didn't get insurance because you thought is was "socialism"
you shouldn't be asking for "socialism" to bail you out.

you reap what you sow.

[sophiasummers]

Alaskan villages that have been in the same location for 10, 000 years have been relocated because of rising oceans. Florida should consider doing the same. These areas are uninsurable at a reasonable rate, so the US should not be picking up the tab.

[deepakgeorge]

Governor of Florida should reject any request for money in line with their own conservative fiscal policy.. Whoever lost money should find their own source.. .. Disaster is not reason for changing conservative fiscal prudence.. MAGA.. Remember NY disaster and decision of this wise gentleman.. Why should this be changed now?

[tss]

People have to stop building in these areas.

[dianadickerson]

Why did they build in flood prone area? Greed. Just like when they mentioned that a hurricane was forming last week, gas companies started jacking prices. Gouging at it's finest AGAIN.

[michaelflinn]

Am I the only one getting really bored with this happening EVERY year. Every single year we have the same story over and over again. Why live in Florida and along this coast. My sympathy is used up.

[andregreen]

Maybe Trump could house the victims at his Mar a Lago complex.
All that freed up extra room where all those documents were stored would house quite a few. 😂

[dasstigma]

If only scientists would have said this was coming some 50years ago. Then we would have been able to prepare better.
🤦🏼‍♂

[rachelkristine]

All that money that the GOV spent on his little political stunt COULD have been used to help these poor folks instead. Is he gonna ship them off to Martha's Vinyard too?! 🤷‍♀️

[chrisnamaste]

I LIVE in the county where both Irma and Ian hit. Frankly there are well known risks and these uninsured people should NOT be bailed out UNLESS 1) they don't use the money to double down on their mistakes. 2) The aid is in the form of LOANs not grants/giveaways. Most of the dwellings are also NOT owner occupied or primary residence owner occupied. Not one penny should be given for non owner occupied or foreign owned real estate rebuild. They can be compelled by the local municipal body to remove the debris and then sell their land. If you play stupid games with mother nature then you deserve stupid prizes. For those who pay thousands per YEAR for flood insurance providing a bailout for a freeloading neighbor is a ridiculously unfair outcome. Why pay 100k for flood insurance when a foreign person could get a free bailout?

[Derguz]

I don't understand why people doesn't take climate changes more serious.. The US consist of 4-5% of the worlds population yet emits 25% of the worlds greenhouse gasses.. not to sound callous but it's getting harder and harder to feel sorry for americans affected by a climate that they themselves has worked to destroy..

[patriciacooper]

Coastal areas should not be built back. Nature's nursery for wildlife and aquatic species needs to be returned instead of beach front homes etc...

[matthewkeating]

That whole peninsula was litterly a swamp.

[timothye]

Flood insurance is a government program. Private insurance companies won’t touch flood risk property

[_sillyeyes_]

Now MAGA will have a chance to learn that fema are the good guys.

[kimberlycornelius]

Well trump will help them with his imaginary powers

[danatmatchvox]

Its like this...no where near water, no where near regular disasters...why do people expect help when they live near the sea, rivers etc....time to relocate

[guymerritt]

Such a pity that Trump isn't still President - he could stand at a podium and throw rolls of paper towels to the victims. That's really responsive government.