Climate risk is squeezing homeowners insurance from every angle

Climate risk is squeezing homeowners insurance from every angle

More extreme and severe natural catastrophes are driving up property-insurance losses — and insurers are responding by raising prices and pulling back on writing or renewing coverage. State-level fixes like Florida's deregulation or California's rate increases don't touch the underlying driver of the crisis.

Gobble's Take: The canary isn't singing. It's sending you a premium notice. Source: The Yale Law Journal

No single state's rulebook can solve this one

Short- to medium-term measures — insurer-focused policies, land-use changes, stronger residual-market finances, federal involvement — can help keep insurance available and affordable. But the risk keeps climbing and will eventually overwhelm all of them. The only long-term solution, the pack is clear, is a full transition away from fossil fuels and other greenhouse-gas-emitting industries.

Gobble's Take: The patch kit helps. But you still have a hole in the boat. Source: The Yale Law Journal

In Case You Missed It

Yesterday's top stories:

• Home insurance as climate governance, with a catch