Despite a history of hurricanes, there were many storm victims in New York without flood insurance thinking the risk for damage was low. But after Sandy hit, many residents are faced now with huge damage bills and no idea how they'll recover. Economics correspondent Paul Solman reports from New York's Long Island.

This video is from the Making Sen$e with Paul Solman video series from PBS. Learn more about these videos and view a listing of the most recent videos we have available.

Key Concepts

Incentive, Opportunity Cost, Role of Government, Insurance, Economic Institutions, Trade-offs among Goals

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