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13:24Now PlayingHistoric fires and floods are wreaking havoc in insurance markets | 5 Things
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13:24Now PlayingIn the course of just one month, deadly wildfires in Hawaii and an historic hurricane in Florida caused billions of dollars of damage, bringing an awareness of insurance risks to the forefront of homeowners’ concerns.
As insurers reassess their risk exposure due to worsening climate events, some are choosing to leave certain markets altogether, making insurance affordability a very serious issue. What’s the solution? Ed Richards, a law professor at Louisiana State University who specializes in Administrative Law, joins 5 Things to discuss how the federal and commercial insurance industries are evolving to adapt to new risks.
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