Climate change is causing an insurance crisis in Australia. The Climate Council of Australia found that river flooding poses the biggest risk to homes. Image via Shutterstock.
The annual cost of flooding today is over US$32 billion nationwide, with an outsized burden on communities in Appalachia, the Gulf Coast and the Northwest.
In order to prepare for more climate disruption, the United States and others will have to "raise unprecedented amounts of money to cope with the impacts of climate change."