the, the key about the video that goes enabled other data media and legal law go, i've got to be done by get, i will stop into that and i'll give you the order. would you, are you able to order that up? joe made any a dog coloring key, more people than the eval on worldwide in search of a did you have you ever used them in, at the accounting method of doing it like godaddy? how do you guys find out about on the story? and so my friends, the hurricane otis 2023 mexico flash floods band 2021

germany hurricane katrina, 2005 usa more frequent and way more intense natural disasters or catastrophes like hurricanes, floods, heat waves, and trouts are happening more often becoming more dangerous and they're growing in cost. in this episode of transforming business, we dig deeper into the insurance industry. we ask, is it keeping up with the increasing destruction being caused by extreme weather? the devastating that's how people described hiking, otis in mexico. and especially so for the province of get at what the city of acapulco sits, guys, the part of them is when that started to get stronger and stronger so much that you could hear it from the room. i didn't want to go out because it was very strong. i

could only hear things falling sticks and everything. i could only hear it sallow folders so you another muscle. ro, seo is a homeowner here. the morning after the hurricane in october 2023. she was unable to enter a different parts of her house. she did not have homeowner's insurance. instead, she had to rely on savings and help from the government to rebuild, which she had lost. uh, but uh for the its very expensive to be able to be insured against disasters or things like that. we don't have enough to be insured or to have something secured if any disaster comes walls. i would've thought i'd go for check because i've, i've, i've got this, kevin, a ro, seo is one of the majority of people living in acapulco who choose not to have insurance. got cancelled, sort of, i mean they only around 6 percent, 6 of a 100 houses have insurance. when this is one of the big challenges when it comes to insurance in mexico and unfortunately payable is no exception. go eat and

document they get, they don't less, it's you. we'll get back to why people are not insured later in this video, but it's not just homeowners. acapulco is a tourist destination. a year before the hurricane hit the region, drilled with almost $9000000.00 tourist filling around half of the hotels during peak season. hurricane owed is damaged 80 percent of the hotels. here's how david zuniga, the owner of photo to request that remembers it. then you may have that, what can i say? tears were running down my face when i saw my company and all my savings. what worried me was weird to get money to recover and able to start and by televisions and supplies that we're talking about 500000 piece or the consumer. the unit of the davids midsize hotel is currently being rebuilt. this property was not insured, but he managed to get some coverage through his bank. cost was a big factor,

why he decided against insurance. but why can it be so expensive in the globe? the insurance industry is worth the 6 trillions west dollars more than japan's g d p. and is one of the biggest industries in the world. what it essentially does is take risks on your behalf. you pay an insurance company, monthly premium that is calculated based on the potential risk of a disaster, like a fire or flood. the higher the risk, the higher the premiums. and in such cases they cover the damage you incurred. obviously, it's not as simple as that. and we'll talk about the problems of the industry later in the video. so how is risk analyzed? well, we can do it ourselves to some extent. if you're a young family looking to invest, if you choose a property in a city, your insurance against natural disasters would maybe be a 100 years a year. but if you find a house closer to the coast or the seat,

then your insurance would be higher. maybe 500 years. this is because the coastal areas are more prone to flooding. am i living in the flood prone area today and was climate change advancing over the next years indicates the if you think about the property a home and then you'll, you'll need to have a long term fuel. how is my property exposed to flooding intent to so the 4050 is time from now. as trial chief climate scientists at munich, cree, the largest re insurance company in the world, explained it like this. of having this knowledge to transparency about the situation and about the options. i have to react properly to improve my resilience. for a long time, insurers and scientists looked at historical data, they checked activity in different parts of the country, for example, and attached a risk level based on how vulnerable it was in the past. the focus that those days

was perkins an earthquake. nobel prize on a v, karen clark pioneer, the risk assessment model in the eighty's. but she questions whether it's an adequate way of looking at it today. of the challenges today or not just for teams in are ways and severe convective storms. floods, wildfires, winter storms. so there are many other perils and the problem is the methodology used by the 1st generation of models to assess her teams. an earthquake is not well suited to what we call the frequency pair. insurers and risk modelers learn from it went all over the world a major hurricane in the us or when storms in europe, health modeling systems analyze the laws and use the learnings to calculate the cost of future disasters. so risk modeling systems also help set the price of premiums have a catalogue of hundreds of thousands of potential uter events of all types

of events. you know, so the are conductive storms, hurricanes earthquakes, just bring them in, even though they're not weather related. and then our clients use that catalog to price the risk, but there are holes and data that the systems use and that can be a problem. and we've come a long way in some regions and improving the quality of that data. but in some areas, we still have challenges in terms of having very good information that would be used by the models to assess the risk. places that will once deemed safe to build are no longer a secure welcome to our valley, invest in germany, a region filled with vineyards and tourism. a region that was ravaged in 2021 by flash floods caused by the low pressure weather system bend. over 150 people lost

their lives. many saw their homes destroyed infrastructure. they used every day, like bridges during the way. and because i'm in total, according to the expert opinion, we have just under a $190000.00 euros and damage to the how of this. it was flooded up to 10 centimeters below the ceiling up the 1st floor. so that everything on the 1st floor and in the basement was affected by the water contaminated by the mud and was no longer usable for slumber confirming the florida and i conditions. but sort of often by no, i was not designated as a high risk area. and so horizon didn't get the natural has, has insurance, and the fluid obviously considering the flood as expecting a horrendous premium. and i'm now paying just under $900.00 euros a year for the whole health insurance, including natural has it's covered. so inclusive it, i mean, partials, climate change costs mainly by humans burning fossil fuels is having a big impact. according to world weather attribution study,

which investigates the impact of global warming on the weather, the heavy rain that led to the floods an otter or more likely to happen and be heavier due to climate change. in germany, having insurance is a key part of life and a big chunk of monthly wages. despite this only 52 percent of the country's homes are covered by natural hazards. insurance, which covers damages caused by floods green earthquakes and more. that's where you hit so it was in terms of when we moved year or rather when we bought the house, i thought about water damage and asked around in the neighborhood what the situation was like. what happened here in the past could be, as everyone always said, like no, no one can ever remember anything like that. yes. but i've come to the conclusion that i made a mistake by not buying natural hazards insurance. that's quite fluffy, setup kind of an attachment for this for up to these increasing risk as a result of climate change is driving up insurance premiums. but let's go back to

mexico. there are many reasons why people don't buy insurance. affordability is the main one. this leads to a protection gap in which many people are uninsured and hence are unable to get to be out for their loss when they get asked if he hits, they face enormous financial pressure. so when rebuilding this gap is also highlighted and the difference between total damage or for disaster and the insured losses even in years when the damaged from catastrophes was huge, the insured losses were only a fraction to remember, rosie all the mexican government helped with some money and her family chipped into, but she and others like her would have benefited from the insurance company say education is key, comes from the business program. and i do, we work with different programs to reach the youngest population, including educational campaigns for elementary and high schools. but and we also have a whole campaign of identification and raising awareness to the risks to which were

exposed in the adult population vehicles of system was it was an important issue. and then there are places labeled uninsurable. it's a very complicated situation obviously. um and nobody likes the fact that the risk is going up, but there is a cost to that. and so it's just a question of how we're going to pay for it. you can initiative called flood free is trying to bridge this problem that provides the insurance to ensure was that cover homes against that's risk to make sure that these ensures can continue to offer that insurance to him earn us at an affordable premium level. this is francisco on a wire, she's a lawyer. i'm an academic in the insurance industry, living in the u. k. which box is that when you're buying a home insurance. so that's covered as automatically bundled in into that insurance policy as part of the basics of which insurance that's of whether you're home and

that is exposed to, if not to this or not the buying this. in other words, every ensure that offers the typical homeowners insurance in the u. k. p is in to the flood the pool. each year the pool accumulates money, which has been used to cover flood related damages for the insurance. instead of the insurance companies being for the damage the floods, the pool is used and whether you're at risk or not, you're protected and other initiative in fiji, which is high risk for psych loans brings communities the state insurance together and see uh the u. m. sponsored an insurance program there uh which actually makes anticipates re pay us. so very insurance doesn't bates for the last to happen, but a pay off this tree goods. uh, venice type soon as imminent. and then the people in the take to communities. they get the vouchers for specific lucas dos, which they can redeem against the food supplies. and also, you know,

as of top this stuff to secure their properties. experts say initiatives like these can help and high risk areas all over the world with close coordination between the insurance industry scientists, risk model as in finance, he has like the government can help protect the vulnerable. but let's come back to the original question. if the insurance industry keeping up with a destruction caused by extreme weather, well, it is an industry where it's trillions of dollars, where companies gamble with risks. and it's worth mentioning that the same industry is also contributing to the problem by investing billions in fossil fuels. as the global population becomes increasingly vulnerable to climate events, the cost of insurance is also rising. ultimately, it's up to the industry to change itself to put in place systems that allow affordable insurance ads to back the green transition that will slow the probability of such catastrophes. the,

to the point. strong opinions, clear positions, international perspectives. growing frustration with the us as russia rams off aerial assaults. can ukraine hold at the eastern front as it struggles under rocket attacks? and how can an air defenses be strengthened? join us this week on to the point to the point next on d w, the, the lease got some hot tips for your package.

the romantic code is spots affinities. check on some great cultural memorials to boot dw travel regarding the expose and exhausted things are getting worse on ukraine's eastern front, as russian troops advanced and airstrikes. humble cities, especially ukraine's. the 2nd biggest hard air campaigns are knocking out ukrainian energy facilities and ukraine's top and military commander. warning the situation in the east has deteriorated significantly. 2 hours north of a cube and it can, you have the death toll rises again from russian missiles. ukraine is calling for more help from the west for aid from the united states and federal protection. as russia intensifies its air strikes, campaign.