Home insurance as climate governance, with a catch

Home insurance as climate governance, with a catch

The big idea in this pack is simple and a little grim: homeowners insurance is being treated as a promising site of climate governance, but the market is also reshuffling risk onto homeowners and the public. Insurers have taken resilience steps like pricing premiums to reflect climate risk, offering discounts for risk-reducing activities, and lobbying for stronger building codes. At the same time, the article says these same markets are moving away from heavily regulated admitted markets toward surplus lines markets with fewer consumer protections, and that shift can make the whole system feel less like protection and more like a pressure valve.

Gobble's Take: If your policy is getting more “resilient” while your bill gets less survivable, you are not imagining the tradeoff.
Source: Perplexity Search

In Case You Missed It

Yesterday's top stories:

• California's FAIR Plan climbs 42% as private insurers pull back
• Even low-risk California homes are getting shoved toward bare-bones coverage
• The insurance crisis has moved from the hillside to the loan file