As climate risks grow, some private home insurance providers  are retreating from US regions most vulnerable to catastrophe. And homeowners who can’t get coverage through the private market are increasingly turning to insurance “plans of last resort,” created by states.

The amount of liability taken on by these types of insurance plans is staggering, and growing: by some estimates, they’re holding more than $1 trillion of risk.

On today’s Big Take podcast, climate reporter Leslie Kaufman and California reporter Nadia Lopez share an investigation into how skyrocketing enrollment in state-created plans could create the conditions for a financial crisis. 

As climate risks grow, some private home insurance providers  are retreating from US regions most vulnerable to catastrophe. And homeowners who can’t get coverage through the private market are increasingly turning to insurance “plans of last resort,” created by states.
The amount of liability taken on by these types of insurance plans is staggering, and growing: by some estimates, they’re holding more than $1 trillion of risk.
On today’s Big Take podcast, climate reporter <a href="https://www.bloomberg.com/authors/AUZ8izNmriE/leslie-kaufman?sref=ndQeXqOs">Leslie Kaufman</a> and California reporter <a href="https://www.bloomberg.com/authors/AWUHJ0fIieg/nadia-lopez?sref=ndQeXqOs">Nadia Lopez</a> share an investigation into how skyrocketing enrollment in state-created plans could create the conditions for a financial crisis.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

A New Housing Crisis Is Brewing In Places Prone to Climate Disasters

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/24e8776a-422a-4360-ac92-b12a017b28eb/transcript

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