Even if there wasn’t evidence of rising sea levels, flood insurance markets would be struggling to keep their heads above water.
Decades of unchecked coastal development, particularly in Florida, have vastly increased the number of properties exposed to the risk of flooding, and the replacement values of those structures have skyrocketed. Under normal conditions, severe tropical weather poses an enormous financial risk to both property owners and insurers. Add in the phenomenon of higher tides and shrinking coastlines, and you have an unsustainable dynamic.
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