California’s Recent Floods Prove We’re Not Prepared for What’s Coming

California has sustained economic losses of $5 billion to $7 billion from the flooding which swept through large parts of the state last month.

That’s according to Moody’s RMS, which estimates insured losses of $500 million to $1.5 billion from the damage inflicted on key infrastructure.

The damage was more extensive than in previous years, as the state went from its three driest years on record to one of its wettest months ever, suggesting that many locations, particularly those affected by wildfires, have become more vulnerable to flash floods and mudflow as climate change takes hold.