Insurance: The cost of destruction

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Tropical Storm Idalia is the most expensive natural disaster to hit the US this year. UBS has estimated that insurance companies in the state will be have to pay out $10 billion, but that figure could rise. This will put more pressure on insurance companies in Florida, where nine property insurance firms have closed down since 2021. We hear from a business that was badly damaged by the storm. (Picture: PERRY, FL - AUGUST 30: A damaged business in downtown Perry, Fla. Scenes from Perry, Fla. on Wednesday, August 30, 2023 after Hurricane Idalia passed through the area. Picture Credit: Getty Images).