From Scientific American :
“The most likely explanation is that you have more people in coastal flood zones, where you get storm surge,” said R.J. Lehmann, director of insurance at the libertarian R Street Institute. Storm surge exacerbates damage through violent waves and rising sea levels.
The cost of repairs from flooding also has increased as knowledge about the health dangers of mold grows, Lehmann said.
- “Scientific American”: https://www.scientificamerican.com/article/flood-insurance-program-increasingly-underwater-as-payouts-shatter-records/