Fitch: only 4% of US homes covered against flooding

Fitch Ratings found that only 4% of U.S. homeowners have private flood insurance, highlighting a significant protection gap.

In its latest analysis, the agency underscores the growing disparity between economic and insured flood losses. For instance, the recent floods in Texas are expected to cause economic damage estimated between 18 and 22 billion USD, while insured losses are projected to fall well short of that amount.