The ESG Initiative at the Wharton School
Gulf Coast residents grapple with home insurers as climate disasters worsen
Outlet: ABC News
As climate disasters grow more costly, insurers aren’t paying policies.
“The insurer’s goal is to collect more in premiums than they pay out in claims,” said Ben Keys, University of Pennsylvania Wharton School of Business professor of real estate and finance. “We’re seeing higher costs of materials, higher costs of labor, and those are growing faster than inflation.”