Insurers Flee California As Catastrophic Wildfires Become The Norm
Consider This from NPR
NPR
4.2 • 6.2K Ratings
🗓️ 21 June 2023
⏱️ 9 minutes
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Summary
Host Ailsa Chang talks with Michael Wara, who directs a climate and energy policy program at Stanford, about the financial calculus insurers are making as the threat of climate-fueled disasters grows.
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Transcript
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| 0:00.0 | In August 2020 in the midst of a punishing heat wave, lightning struck California almost |
| 0:12.0 | 12,000 times, igniting fires all across the state. |
| 0:16.3 | And so 23 major fires, Governor Gavin Newsom said he had called in the National Guard. |
| 0:21.2 | We declared a statewide emergency yesterday. |
| 0:24.6 | Thousands of firefighters had already fanned out throughout the state. |
| 0:27.5 | Cal Fire has now ordered a mandatory evacuation for the entire town of Felton. |
| 0:32.4 | We have seen a steady stream of cars. |
| 0:34.1 | Everyone pulling their jesskeys, lawn equipment, RVs. |
| 0:37.8 | In the mountains outside Santa Cruz, bystanders described apocalyptic scenes as flames and |
| 0:43.3 | golfed small communities. |
| 0:44.8 | It was like a movie. |
| 0:45.9 | We were watching the fire just wore in. |
| 0:48.7 | You could hear pro paintings blowing out. |
| 0:51.4 | We have bridges that have failed. |
| 0:53.0 | All wooden bridges that have failed. |
| 0:54.4 | And check out the back of this car, the glass. |
| 0:57.2 | Holy mountain away. |
| 0:58.8 | And over here, this house left in rubble. |
| 1:01.8 | That fire, the CZU lightning complex fire, was one of California's most destructive on |
| 1:07.2 | record, killing one person and raising about 1500 homes and buildings to the ground. |
| 1:13.2 | It's the type of disaster that the state's largest home insurer, state farm, might have |
| 1:17.4 | been referring to when it said recently that it's facing, quote, rapidly growing catastrophe |
... |
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