While the Trump administration is halting federal funding for projects designed to make states more resilient to climate change and for private insurers Waste To insure properties in high-risk areas, North Carolina just proved there is another way to finance disaster preparedness: a $600 million catastrophe bond that rewards homeowners and their insurers for installing “super roofs.”
Along the beaches of North Carolina, Wind damage from hurricanes is such a threat that many private insurers have stopped offering coverage. Hundreds of thousands of homeowners were forced to take out insurance the North Carolina Insurance Underwriting Association (NCIUA), the state-chartered insurer of last resort for…
