Maybe you don’t believe in climate change – but your insurance company sure does. Flood insurance premiums have risen sharply, and “some” home owners are finding, they can’t get a policy at any price.
Insurers have been paying out some $90 billion a year to home owner claims, and many of them have retreated from covering homes in vulnerable areas, or shut down entirely.
Clifford Rossi has a unique vantage point in the world where natural disasters meet finance. He just retired as Professor-of-the-Practice and Executive-in-Residence at the University of Maryland’s Finance Department in the Robert H. Smith School of Business.
Before that, he worked for the likes of Citigroup, Freddie Mac and Fannie Mae. His focus: risk management. And from his home in Woolford, he has become personally familiar with rising waters in Dorchester County.
He says Dorchester’s storms and tides paint an ominous picture for what awaits county residents in the near future...
