Hello, I'm Lexi O'Connor and you're listening to Business Daily from the BBC World Service.

Today we're talking about the insurance nightmare being driven by a rise in natural disasters,

like floods, wildfires and extreme storms.

Properties began to flood in their gardens from say nine o'clock

and then by midnight we were well underwater.

Climate change means these events are becoming more frequent and more intense.

Added to that, the world's population keeps on growing,

with more and more of us choosing to live in these increasingly risky places.

It just washes away all the vegetables.

There was nothing left on the land.

But there are also some clever new ideas.

In today's program, we'll look at a growing area of insurance that could help some of the world's poorest people

protect themselves against disaster.

His house always blocked the sky.

And when I turned onto his street, which was a cul-de-sac,

and I saw sun shining through and I knew it was

gone and I knew he knew. This is Rita Maldonado. A couple of weeks ago on Business Daily, she told us

how her dad and stepmom had lost everything to the Los Angeles wildfires.

We got down from the car and he kind of just stood there and I just remember him saying this is what I expected to see.

And of course I wanted to just break down and cry, but, you know, I had to be strong for him.

In their 70s and dropped by their insurer, they were unable to afford another policy to protect their home.

I know in his heart he wants to rebuild for my stepmom because she loved that home,

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