Thing is I figure you need some form of water board to manage it. A political entity that's all about "here we are and here we stay". Once they're set up they're pretty reliable (there's one that's still paying interest on a 370-year old bond https://www.youtube.com/watch?v=cfSIC8jwbQs )
[1] https://coastalscience.noaa.gov/news/hardening-shorelines-ma...
Very interesting! Does it affect the point that insurers (even if not actuaries) put a high price on this risk and that the price is subsequently suppressed by government insurance subsidies?
If you own a house or building in Florida and have a mortgage, you're required to carry it. Here's how a policy gets priced:
You go to a retail broker with your info. They pass it to a wholesaler, who puts the submission out into the market for quotes. Any carrier or MGA that wants the business prices the CAT and AOP (non-CAT) portions separately. Actuaries build models for the AOP side, while Verisk and Moody's model the CAT portion. Those two numbers get added together, plus some fees — and that's your annual premium.
From there, the insurers buy reinsurance on their portfolios. The reinsurers run those same models, do their magic, and come up with their own price.
Just an example, because no major hurricanes have hit the south east in a while, premiums are down 30% right now. All of the insurance companies are getting squeezed.
Here's a few books on the subject which might be of interest for those who want to widen their view on the ever-changing climate. All of them have in common that they do not deny the climate is changing nor that human activities influence how it changes. Where they differ from the doom narrative is that they approach climate change in the way humans have dealt with other environmental problems to lessen or negate their impact instead of by preaching some grand narrative on how society should be run to avoid catastrophe.
Apocalypse Never: Why Environmental Alarmism Hurts Us All by Michael Shellenberger
https://www.amazon.com/Apocalypse-Never-Environmental-Alarmi...
False Alarm: How Climate Change Panic Costs Us Trillions, Hurts the Poor, and Fails to Fix the Planet by Bjorn Lomborg
https://www.amazon.com/False-Alarm-Climate-Change-Trillions/...
Unsettled (Updated and Expanded Edition): What Climate Science Tells Us, What It Doesn't, and Why It Matters by Steven E. Koonin
https://www.amazon.com/Unsettled-Updated-Expanded-Climate-Sc...
https://www.nbcmiami.com/investigations/miami-beach-resilien...