Insurance +

Insurance Is the Hidden Cost in US Housing 0324

     This article emphasizes hurricane damage and wildfire damage.  At least 21 states have set up state-government-sponsored hazard insurance, but don't have a good idea where the money would come from to pay out damage claims.  Major insurers, like State Farm and Allstate, have stopped writing new policies or abandoned the state(s) altogether when governemnts have failed to allow rate increases to cover the insurers' losses and expected losses.  The problem is that damages are rising rapidly and the threat of future damages even faster.  Therefore insurance premium increases have become inordinate in the eyes of policy-holders, in some cases higher than mortgage payments.  However, home insurance is required for the mortgage market to function, with knock-on effects for schools, roads, and all manner of adaptation.


Wildfires Pose Hidden Threat to Mortgage Lenders and Investors 0424

US Home Insurance ‘Bubble’ Closer to Popping as Climate Risks Mount 0923

Climate Change Is Causing an Insurance Crisis in Louisiana 0923

As Climate Disasters Hit More U.S. Farms, Crop Insurance Costs Skyrocketed 0923

Insured Losses From Natural Catastrophes Set to Top $100 Billion 0823

Florida’s ‘Last Resort’ Property Insurer Is Now State’s Biggest 0823 - as large, nationwide insurere abandon Florida or cut back a lot.

Farmers Insurance Pulls Out of Florida, Affecting 100,000 Policy-Holders 0723 - Most big-name insurers are already gone.

Climate Change and Homeowners’ Insurance Are on a Collision Course 0623

Climate Shocks Are Making Parts of America Uninsurable. It Just Got Worse. 0523

Flood Insurance Rates Will Soar in Some Areas, FEMA Says 0523

Florida and Louisiana Must Borrow Many Millions to Pay Insurance Claims 0523

Climate Change Is Destabilizing the Insurance Industry 0323

In Fraud, Insurers Slashed Hurricane Ian Payouts Far below Damage Estimates 0323 - often 2% of damages estimated by adjuster on the spot

Extreme Weather Spread in 2022, with $270 Billion in Losses, $120 Billion Insured 0123

Colorado May Create Last-Resort Insurance for High Wildfire Risk Homes 1222

Climate Change Means 1 in 25 Aussie Homes Could Become Uninsurable by 2030 - 0522

How Do You Insure Yourself against Climate Change? 0721 - Losses for insurers are more unpredictable, for a higher risk premium.  People don’t like to pay high premiums, so those who most need insurance are the least likely to get it.

Climate Threats Could Mean Big Jumps in Flood Insurance Costs This Year 0221

Federal Report Warns of Financial Havoc from Climate Change 0920

Insurers Paid Out $27 Billion for Natural Disaster Claims in 2015 - 0116 - down from 2014 and 2005-2014 average

Climate-Linked Insurance Could Help Poor Farmers Offset Crop Failure Risk 0115

Insurers Retreat From Weather Disasters 0115

US Insurers Retreat from Weather Disasters 1014

World's Largest Insurance Underwriter Blames Climate Change 0114

RSA Insurance in Eye of Storm, as Europe Bill Soars After Extreme Weather 1113

Minnesota Asks Insurers- Are You Ready for Climate Change? 0813

Flood Insurance Changes Run Into Resistance 0713

4 Ways US Government Subsidizes Risky Coastal Rebuilding 0613 

After Sandy, Flood Insurance Soars 0613 

Coastal Congressmen Vote to Renew Flood Insurance Subsidies 0613 

Who's Paying the Price for Global Warming? Taxpayers! 0513 

Private US Flood Insurance Flounders 0413 

Insurers Cut Coverage with More Weather Extremes 0412 

Growing Losses Make Insurers Allies in the Climate Fight 1111

Section Map: Drought, Oceans, Snow, Adapt