Why Imperial's Havens Says Harvey Losses May Reach $100B

The video discusses the potential economic losses from Hurricane Harvey, estimated to reach $100 billion. It compares these losses to past hurricanes like Katrina and Sandy, considering the relative sizes of affected economies. The discussion highlights the low insurance coverage in Houston, with only about 15% of homeowners insured, and the challenges posed by the extensive flooding. The video emphasizes the lack of flood insurance in typical homeowners' policies, leading to significant undercoverage in the region.

What factors were considered in estimating the economic losses from Hurricane Harvey?

What challenges do homeowners face regarding flood insurance after Hurricane Harvey?