Flooding Is Getting Worse. What Should Businesses Do?
With 40% of the US living in coastal areas, the risk of flooding from stronger storms and rising sea levels isn’t just an inconvenience; it’s a looming crisis for businesses, insurers, and governments. How can businesses and governments assess the risks, update their strategies, and balance the needs of all stakeholders, including residents? Join Steve Odland and guest Alex Heil, PhD, Senior Economist at The Conference Board, to explore the rising costs of more severe flooding, the challenges of urban planning and development in flood-prone areas, and how businesses can build resilience against these risks. (00:08) Overview of Economic Impact of Flooding (00:41) Discussion on Recent Flooding Events (01:53) Global Warming and Weather Events (04:12) Development in Flood-Prone Areas (06:22) Economic Costs of Flooding (09:30) Insurance Industry Challenges (13:49) Business Adaptation Strategies (25:17) Public Policy and Flood Management For more from The Conference Board: Under Water: How Will Firms Respond to Ever More Severe and Frequent Flooding? Extreme Heat Is Causing Business Disruptions and Higher Costs Climate Lawsuits: A Rising Threat for Business