Insurance Crisis on the Frontlines of Climate Change
Insurance markets in states like California, Florida, and Louisiana are on the frontlines of an emerging national insurance crisis fueled by threats from climate change. As Michael Copley examines, some state regulators are employing emerging solutions to address rising costs and other issues related to this crisis.
The impact of climate change on insurance markets has become a pressing concern, with rising costs and increasing frequency of natural disasters affecting homeowners’ ability to secure insurance. Despite efforts to protect homes from disasters, many residents are finding it challenging to obtain insurance coverage.
As the crisis deepens, state regulators are exploring various solutions to mitigate its effects. These include measures to make insurance more accessible and affordable for homeowners who have taken steps to protect their properties from natural disasters.
The issue is not limited to these states, as the national insurance crisis continues to unfold. Experts are watching closely as regulators work to address the challenges posed by climate change.
