If you're just shorn -- I've sort of been showbuzz sitting on stumbled on this launch Gloria out of Chicago. And initially didn't think it very much stood nuts that you wouldn't get a couple of experts on in Poland. If it's not much of anything like I think it is. Or is -- something we should all be aware of and basically what it's emblem. A big insurance company former is insurance group. Filed lawsuits against 200 cities and towns in the non class action lawsuit. Maimed dogs don't -- and Motrin and in -- play as excellent. Saying that the cities and towns had not prepared for global warm. -- -- wedeman is pretty big insurance company they believe in global warming or. To love reading and comply and a -- from Europe on. Then in the union -- -- -- -- The truth. -- what I found out today. Is that the majority of the big insurance companies believed in global warming. And it's a bullet this is true forget. The liberal conservative debate forget that he. Religious debate -- get the before Rush Limbaugh or debate. If the insurance companies usually it's regal. And we're gonna assume -- You don't prepare for it because our shareholders and like -- -- The argument that the global warming or at least a year. It becomes a monetary Ingraham that -- an area religious sort of scientific debate. But in -- way -- have whatever tell you what I think we go to the experts and we get the real information. Thankfully professor at Richards has agreed talk to its L issue law school professor bloke on the -- or appreciated call. Thank you for inviting me to help me yeah is this it's something that the insurance industry believes global warming. And he has this although they were attracted these auction took on the an interest -- Before the problem that it but some people in the insurance companies says it was simply shot across the bow. Two architects to. Construction. Industry to cities that don't -- homeowners. Were like good paying your bill. Well I think you've got the hardest this the insurance industry particularly the global -- insurers but actually back all the insurance companies. Believe deeply in and climate change and global warming and fact are. -- one of the reinsurance companies look at bill looking at a long term projection that eventually. Everyone on the East Coast high risk coastal areas that is in getting subsidized insurance the National Flood Insurance Program. Will eventually get priced off the coast. -- -- -- so let's say that program we would be it would for afford -- commercial insurance and Louisiana. Say that again. I want people really helps them. Do for folks that are outside the National Flood Insurance Program which -- got a house support the churn churn for more than 250000. Dollars or business were more than 500000. You're in the commercial insurance market and those commercial rates -- really determined. By the cost of the insurance companies buying insurance from -- called reinsurance company. These are often Zurich war in the Bahamas they're big international companies. And they have. Put out a lot of reports about risk from climate change and that they are clearly going to be increasing their rates they charge insurance companies. In higher risk coastal area and that means. For folks in Louisiana for businesses for homeowners that are outside the flood insurance program. There rates will progressively go up through time and that's gonna make it more and more difficult. To be in these coastal areas of less you have a very profitable business reason for being here yet -- you're doing. Profitable source business in New Orleans shall pay your higher insurance premium but if you're just -- a business aspect of the Baton Rouge Aussie instead of and Morgan City -- -- war ones you'll eventually need to move for financial reasons. That's that's the pitcher you've putted beautifully that the economic facts of life it is and religious question or political question. And this did this -- -- heard about that. -- one of get a call -- introducing questions bring him and show under wrong with the purpose Richard. But I doubt China did you fall apart so I just bought thousand gentility. Ball on the radar about seventeen off the ground -- slaughter show right now are able. And that you like -- in mixed messages. When ask like how much -- I believe it's critical -- When they adopt the preliminary match but how much will it go up and political battles. Proposed drug no your not in the insurance business for the do you have thoughts on the. Well it. Currently the have rolled back the effort to reform afford insurance program and I think that's probably gonna keep the rate from going up significantly. At the point when the feds actually make that program actually worried at least now leaving the going to be charging rates -- reasonable commercial rates the rates will go up dramatically but. Right now it's a political questions rather than them. Sort of scientific. Or insurance questions so long as congress is willing to keep rates down. I'd it's hard to say how much -- -- looked at that particular situation but not nearly as much as they would have had program reforms to -- And if we unit of the sandy -- Katrina. They don't live in Troy is because that fund is virtually depleted does not let. -- 21 billion dollars in debt. They're just piling more debt on each time. Basically what it did was stumble on -- story opened Chicago major. Insurance company sued. 200 municipalities. Maybe the -- nine class action lawsuits. Is big called reformers -- church group. And they basically said we believe that climate change is real global warming is real. Our shareholders or not going to pay for you said the people. Professionals. Homeowners that are not preparing for global warming. So we're considered public pulled the suit back nobody sinks and watch it. What we've we have over second professor where the -- of which were saying yes this is an important well. An important story that we -- at all and -- -- professor of Richards with this OSHA laws scoop professor will bring power and taxes Howard -- show. Coco. Book has -- we only talking about coastal situations faced in the post but we talk about parishes and counties along the Gulf Coast inland. And that at the same problem. And counties and parishes allow developers. To go into areas. -- essentially flood prone price feels it's a truck put developers this faced flat panel subdivision. Would hit -- -- to -- subside. In court don't homeowners problems. And I'm concerned in would give an example well that right now Islip and the -- Out west that he's northwest the use as an area and you know any night and aren't bought yen in new 99 beltway. Essentially put rice fields that -- -- -- positions now. And. In slipped ID thought is that and it's play at that -- developed because they'd make their money. It -- something exciting young couple naive young -- looking at the beautiful thing which was announced when he has no problem policy can't. -- we go to shorten dynamo would assume that you dutrow restroom was this'll. Why there are a lot of match. That's actually goes that's great question because we get back to that lawsuit for justice sector. People got distracted by the fact that the insurance companies -- think of it. Their release and on behalf of their insurance like when your auto insurance companies to use the other driver to get the money than we hear racked. So if you think about this is really all the owners of businesses -- it makes more sense. And that's exactly the risk this. In Louisiana in those areas of Houston there was familiar with those as well. Risk is not that we're gonna be sued for not restored wetlands those really make no real difference to flood risk the risk is and this has been shown in lawsuits. Before you could sue the municipalities. You conceive the cities the parishes. The county's. For issuing building permits allowing people to build high risk area. That's a step so proven type of complying. And in an area that's already at high risk for flooding. Some of those Houston area certainly everywhere around here that's -- for the before. And then that you know that area's going to be at ever higher risk -- the sea level rises and Lance subsides. Then people believe if they have a problem and -- -- from Mosul how to build a house that it's safe to build there. That's really are what are cool legal liabilities. Failure of the planning and zoning. And land use process and that's that's been successful lawsuits and other contacts. And I think that's what we're really -- -- -- here is that we have to retreat from these dangerous areas rather than a while. Rebuilding in new development and. And the last sizzle lists have power to -- they're they're just seem to be your circle. Problem here. Where we have a problem -- insurance companies who said you duke people can debate it won't we're telling you global warming is real our shareholders. Or not going to pay for you municipalities. And other areas of not preparing. For what we know who's coming. Consequently. You're gonna pay more or you can remove. And whether it be. The pot that Washington is billions of dollars short. Of the money is not there. So do we end up with the -- -- dust -- -- back to where you shouldn't. Remarked coached the middle class doesn't seem to have the money to leave home they can't sell. To -- oil tour. Overall if we -- is the federal government had gotten into this game in the sixties providing disaster relief and and the national for the burial people out. We wouldn't be in this position we wouldn't have a while the development but right now disasters -- business. In our bureau -- error in this. Parish president you'd get flooded out with Katrina you get a pile of money from the Fred they've rebuilt volume building. You know the western you do it is more damage we have them more money we hit -- Morgan construction we. So they're amazing. -- meant that must be not true good we don't like big government do. But. The real problems of other people's money about what we're deeper. Professor a bush win a couple hours as as a very important subject perhaps weakened. Talking and coming back. By Serb leader remark -- a different partner as usual the accused OW.