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Floods are an excluded peril in standard homeowners policies, so those in areas in danger of flooding should consider additional coverage.

Complicating the matter is the fact that climate-fueled extreme weather can be hard to predict.

As Florida's property-insurance market has crumbled and home values have soared, many homeowners have been dropped by private insurers and cannot qualify for Citizens coverage because of the $700,000 cap.

Drought conditions followed by massive downpours are causing damaging and deadly flooding across the globe.

"If there's a direct-hit Category 5 storm that hits Miami, you're going to see 20 insurance companies go bankrupt and are not going to be able to pay claims. It's become a big problem," said South Florida insurance broker Joseph Gendelman.

The August 2022 issue of NU Property & Casualty magazine honors a proactive approach to mitigating risks.

Cooler water in the tropical Atlantic will help tamp down the season's ferocity, according to two updated forecasts.

Inland flooding is now more common and costly than coastal catastrophes. Here's advice for insurance adjusters and insureds.