Why Insurers Are Pulling Out of High-Risk Areas | Odd Lots
发布时间 2023-09-25 11:13:09 来源
摘要
This year has seen a spate of insurance companies announcing that they're leaving markets like Florida and California, citing the increased risk of natural disasters, such as floods and wildfires. Elsewhere, premiums for certain types of insurance are skyrocketing — yet many insurance companies can't seem to turn a profit in certain areas. Melanie Gall is the co-director of the Center for Emergency Management and Homeland Security at Arizona State University, and she also manages the Spatial Hazard Events and Losses Database for the United States, known as SHELDUS. In this episode, we talk to her about what's driving insurers away from certain markets, and what can still be done to protect businesses and homeowners from catastrophe.
Intro -- 0:00
How are damage costs estimated? — 7:02
Why do damage estimates vary and does it matter? — 11:10
Are natural disasters happening more often? — 14:15
Why are insurers leaving certain markets? — 16:17
Why can’t they just raise premiums? — 19:23
Should people just move from high-risk areas? — 22:52
What can states do to help? — 28:08
Possible risk-sharing arrangements — 31:06
Tying risk to a building versus a policyholder — 35:04
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