Why can't we insure trees?

This episode of The Indicator from Planet Money discusses the lack of insurance for trees in the US, focusing on the impact of a severe ice storm in Michigan on a maple syrup producer. The interview explores why there's no market for tree insurance despite demand, highlighting the high costs of valuation and the long growth cycles of trees. The podcast contrasts the US situation with countries like France and China, where government intervention created markets, and the Nordic model where cooperatives negotiated premiums. The episode concludes by discussing the challenges and potential solutions for insuring trees, including government aid and the potential for future changes in the insurance market due to increased extreme weather events.