House of Cards: Florida and Property Insurance in the Age of Climate Change

www.americaadapts.org
In episode 210 of America Adapts, Dr. Carolyn Kousky, Associate Vice President for Economics and Policy at the Environmental Defense Fund, returns to discuss the climate challenges in Florida's property insurance market. She outlines how Florida faces significant economic risks due to hurricanes and other disasters, with 36 presidential disaster declarations since 2000. The episode delves into the complexities of the state's insurance system, focusing on three key programs: Citizens Property Insurance Corporation, the Florida Hurricane Catastrophe Fund, and the Florida Insurance Guarantee Association. Dr. Kousky addresses the reliance on smaller insurance companies; the critical role of reinsurance; and the impact of climate change on insurance pricing and availability. Doug and Carolyn have a broader conversation about the insanity of the Florida system of the existing property insurance market and how it could lead to price gouging for Florida citizens living in less at risk areas of the state. Also, the ‘hot take’ for this episode!
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