They are waiting to see what policies are implemented from a government standpoint. Currently, about 75% of natural disaster damage is paid for by private insurance companies while the other 25% is paid for by government. As climate change becomes more and more a center focus- solutions are a hot topic of discussion.
As stated by David Roland-Holst and Fredrich Kahrl, “If the government assumes the costs of climate defense and risk management, this represents a massive transfer of wealth from taxpayers to selected property owners, as well as a moral hazard in insurance and property markets that may drive prices far above more realistic riskadjusted valuations, further inflating the public’s climate liability. Unfortunately there is very little research to support policy guidance on this important climate issue.”
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