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The financial costs of extreme weather are profound, not only in terms of the distress of those immediately affected but also in broader, more long-term macroeconomic and public budgetary effects. This Article focuses on the role that private and public insurance can play, both positively and negatively, on these effects. It also provides one of the most detailed analyses in the legal literature to date on the finances of three state residual-risk wind pools in the Gulf and Southeastern United States that have been created specifically with hurricane risks in mind.