The Gunas of Gardi Sugdub are the first of 63 communities along Panama’s Caribbean and Pacific coasts that government officials and scientists expect to be forced to relocate by rising sea levels in the coming decades.
It's already a problem they are ignoring. Property insurance costs are becoming untenable and new insurers leave the state entirely every year. People will be forced out of those areas due to costs alone long before the sea engulfs them. You can't get a mortgage for a property nobody will insure.
Insurance companies could refuse to insure drilling projects, pipelines or oil ships and stop the oil industry in a whimp. Isn't going to happen because oil companies can join forces and create a new insurance company and insure themselves.
Yeah. It is possible that one bad hurricane season could bankrupt the state as the state of Florida has become the insurer of last resort for a large chunk of the state.