Hurricane Helene has emerged as one of the deadliest storms in recent U.S. history, claiming at least 230 lives across six states and causing estimated property and economic losses of up to $250 billion. However, the insurance industry reports that only about $5 billion of these losses are covered by insurance, leaving many homeowners vulnerable in the aftermath of the disaster.

Jeffrey Sligemelch, director of the National Center for Disaster Preparedness at Columbia University, highlighted the dire situation in Western North Carolina, where less than 1% of households affected by flooding have flood insurance. This lack of coverage poses significant challenges for recovery efforts, as many residents will not have access to the financial resources typically provided through homeowner's or business insurance.

Sligemelch noted that while federal assistance programs exist, they often provide lower amounts of aid and can take considerable time to implement. As a result, many affected individuals may find themselves without sufficient funds to rebuild their homes or businesses. This situation raises concerns about the potential for some areas to remain unreconstructed, particularly those that are less visible or less prioritized for recovery efforts.

The discussion also pointed to a broader issue across the country, where many households that should have flood insurance do not. This gap in coverage could lead to prolonged recovery times and increased reliance on public and philanthropic assistance, further complicating the rebuilding process in the wake of such devastating storms.