A Climate-Fueled Insurance Crisis

Climate impacts are leading to large-scale changes across the property insurance industry, as flood plains expand and some companies pull out of hard-hit states. See how our partners are reporting on this: from regulation to calls for more coverage for homeowners.

– Michael Crowe, Editor/Project Manager, Covering Climate Collaborative

Reporting from Our Partners

Floodwaters rise midway up a set of residential mailboxes, screencap from WRAL news video

WRAL Raleigh: With peak of hurricane season on horizon, officials urge North Carolinians to consider flood insurance

Less than 4% of homes in North Carolina are currently covered by flood insurance. Officials say flood risk areas are expanding and are encouraging homeowners to consider flood insurance ahead of the height of hurricane season.

Gulf water flows through a broken section of Pine Island Road on Thursday, Sept. 29, 2022, in Matlacha, Fla. Hurricane Ian made landfall on the coast of South West Florida as a category 4 storm Wednesday afternoon leaving areas affected with flooded streets, downed trees and scattered debris. MATIAS J. OCNER mocner@miamiherald.com

Miami Herald: New study warns of ‘climate insurance bubble.’ Is that driving costs up in Florida?

A new study and a string of recent financial and industry reports suggest it could get even worse.

The california capitol dome from a drone. Via KGO News

ABC 7 San Francisco: Wildfire-prone CA to consider new rules for property insurance pricing, commissioner announces

"With the climate crisis and historic inflation, we are truly living in unprecedented times."

From Our Science Partners

A graph from climate central showing the ride of their climate shift index between june and august

Climate Central: Carbon pollution boosted heat for billions during Earth’s hottest summer

New analysis from our partners at Climate Central found nearly half (48%) of the world’s population experienced at least 30 June-August days with a Climate Shift Index (CSI) level 3 or higher — heat made at least three times more likely by climate change.

What we're reading

The Guardian reports on drought-fueled saltwater creeping up the Mississippi River in Louisiana, fouling drinking water, which becomes more likely because of climate change
From the New York Times, California Sues Giant Oil Companies, Citing Decades of Deception
The Heated newsletter asks: If insurance companies truly understand climate risk—and if they are truly acting responsibly—why are they still underwriting and investing in fossil fuel projects, and supporting the expansion of fossil fuel production around the world?

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