Questions on Florida state home insurance
Florida state-run home insurance is generating major profits for outside companies, a CBS News investigation found. Ash-har Quraishi has more.
Watch CBS News
Florida state-run home insurance is generating major profits for outside companies, a CBS News investigation found. Ash-har Quraishi has more.
As the housing market braces for the impact of a government shutdown, authorization for the largest residential flood insurance program in the U.S. has expired. Neil Alldredge, President and CEO of the National Association of Mutual Insurance Companies, joins "The Daily Report" to discuss.
Insured property losses have soared, pushing insurers into hiking rates or even pulling out. So-called catastrophe bonds are emerging as a way to bring more capital into the market. Ash-har Quraishi reports.
Authorities continued their rescue and recovery missions in Central Texas on Tuesday as the death toll from last week's catastrophic flooding surpassed 100 people. Meanwhile, insurance experts have expressed concern over the coverage gap across Texas as the state becomes more susceptible to severe flooding driven by climate change. CBS News Texas reporter Bo Evans has more and Mark Friedlander, senior director of media relations at the Insurance Information Institute, joins "The Daily Report" to discuss.
When a natural disaster strikes, it can create a financial storm for homeowners who have lost everything. Dave Malkoff reports that many are often left temporarily homeless and still obligated to pay their monthly mortgage.
The next president could have a big impact on climate change policies. Here are 11 ways the issue could impact your health, bills, natural disaster recovery and more.
The damage from Hurricanes Milton and Helene is expected to cost tens of billions of dollars. The primary option for millions of Americans facing storm damage is the National Flood Insurance Program, but some lawmakers are raising concerns that the fund could get overwhelmed with claims. Republican Rep. Garret Graves of Louisiana joins "America Decides" to discuss.
Analysts estimate Hurricane Milton could have caused up to $50 billion in insured losses for Florida property owners. CBS News business analyst Jill Schlesinger explains what to do about filing a claim.
Outside of Florida, roughly 99% of homeowners that sustained flooding are not covered, Insurance Information Institute estimates.
Moody's Analytics predicts Hurricane Helene will cause $15 to $26 billion in property damage alone, and AccuWeather estimates the total damage and economic loss could cost up to $110 billion. These figures would make Helene one of the most expensive storms in the country's history. Mark Friedlander, spokesperson for the Insurance Information Institute, joins CBS News to explain how the natural disaster will impact home insurance prices.
As climate change whips up wilder weather, more Americans must deal with "hazards they have not faced in the past," expert says.
Heavy flooding has inundated several parts of Minnesota over the past two weeks. However, a vast majority of Minnesotans lack flood insurance, leaving some with extensive property loss and an uncertain future. Tom Hanson reports.
Another atmospheric river event is battering California with wind, rain and snow. CBS News national correspondent Jonathan Vigliotti has more from the Golden State.
Extreme weather is spurring some insurers to exit states like California and Florida, while homeowners grapple with surging premiums.
More than ever, having enough insurance coverage is essential. But not all policies cover every type of extreme weather event.
The increases are slated to be phased in over the coming years. The states say the steeper rates could cost some people their homes and businesses.