It’s really great that both major parties will do fuck all about this. The GOP will pretend that it’s not happening so they’ll do nothing. The dems might make some speeches about it but in the end they’ll do nothing too.

Emphasis mine.

In a webinar with journalists last month, Burt argued that US homeowners’ wildfire and flood risks are underinsured by $28.7 billion a year. As a result, more than 17 million homes, representing nearly 19% of total US home value, are at risk of suffering what could total $1.2 trillion in value destruction.

[…]

Burt’s estimate may actually be on the conservative side. The climate-risk research firm First Street Foundation last year estimated that 39 million US homes — nearly half of all single-family homes in the country — are underinsured against natural disasters, including 6.8 million relying on state-backed insurers of last resort.

[…]

“Every part of our financial and legal system at this point is devoted, singularly devoted, to keeping the status quo in place,” Harvard Law School professor Susan Crawford said in the webinar. “It will be difficult for us to adapt.”