As storms become more powerful and more damaging, will living on the coasts become simply impossible? Insurance companies might try to price you out before we find out.
More than a month after Hurricane Irene narrowly missed making landfall on Wall Street and pummeled the East Coast with floods, the effects of the storm continue rippling outwards. Congress narrowly avoided a government shutdown over a bitter dispute over FEMA funding after a summer of disasters had drained its accounts. Meanwhile, insurers are potentially facing $5.5 billion in losses, not counting flood damage (which isn’t covered under most homeowner policies) or economic losses stemming from power outages and destroyed roads or rail.
To read the full, original article click on this link: The Trillion-Dollar Storm: Will Hurricanes Drive Us Off The Coasts? | Fast Company
Author:Greg Lindsay
