Unpaid Weather Insurance Claims Reach Billions Of Dollars

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According to AccuWeather, Hurricane Beryl’s price tag was $30 billion. While it may be the largest weather event of the year in the US, hundreds of others exist. Most people assume home damage is covered by insurance. It is often not, often leaving the owners financially distressed.

Climate News –Bitcoin And The Grid

Several weather events in the US this year were rare compared to history. These include a huge number of tornadoes and violent hail storms, which have primarily been in the Midwest. However, according to The Wall Street Journal, events that happen over time are often not covered.” Standard insurance policies are designed for sudden and accidental damages, such as those caused by fires, storms and theft, and often don’t cover the effects of intense heat, which can be gradual.”

Worker Safety

According to the article, worker safety is among the other issues. At hot outdoor construction sites, heat stroke is a real risk. Builders on a deadline may try to finish projects even when the heat is high. In some cities, this has become a battle, pitting worker safety against profits.

Over 600 people died in the Phoenix metro last year, and that figure is almost certainly undercounted. The city had 54 days when the temperature was over 110 degrees F. It did not drop below 90 degrees at night. Temperatures above 80 are usually considered circumstances in which people cannot sleep well.

Insurance rates for property have become an issue in weather battered regions. In some areas, insurance is not available at all. Protecting people’s lives may have high costs, and no access to insurance either.