Despite an onslaught of extreme weather events that have barraged American homes in recent months and years, the New York Times reports that the number of Americans with flood insurance has dropped during the last decade.
Why it matters: As climate change will only increase the likelihood of floods, insurance rates are expected to surge. Beyond floods, in California, officials have tried to curtail rate bumps in regions at risk of wildfire, and also tried to discourage insurance providers from dropping policyholders.
