Insurers Are Deserting Homeowners as Climate Shocks Worsen

[cliffside]

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https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html?unlocked_article_code=1.ik4.Kbbp.4jrIVvnCJ0Mh&smid=url-share

"... None of it mattered. His insurance company, Homesite Insurance, dumped him. “Property is located in a brushfire or wildfire area that no longer meets Homesite’s minimum standard for wildfire risk,” the letter read. (Homesite did not respond to a request for comment.)

Mr. Zimmel has company. Since 2018, more than 1.9 million home insurance contracts nationwide have been dropped — “nonrenewed,” in the parlance of the industry. In more than 200 counties, the nonrenewal rate has tripled or more, according to the findings of a congressional investigation released Wednesday.

As a warming planet delivers more wildfires, hurricanes and other threats, America’s once reliably boring home insurance market has become the place where climate shocks collide with everyday life.

... Now, for the first time, the scale of that pullback is becoming public. Last fall, the Senate Budget Committee demanded the country’s largest insurance companies provide the number of nonrenewals by county and year. The result is a map that tracks the climate crisis in a new way..."


Interactive map

See Where Home Insurance Policies Were Dropped in Your State

https://www.nytimes.com/interactive/2024/12/18/climate/insurance-nonrenewal-rates-policies-state-map.html?unlocked_article_code=1.ik4.kRi2.cmwwveVV_Srx&smid=url-share

[love_katz]

1. Link leads to a paywall.

EOM

[albacore]

6. I canceled my subscription weeks ago, and my account page shows that, but I still opened it. nt

[hatrack]

9. The link at the top works

.

[krkaufman]

2. "Last year the Senate ..."

So the type of exposition we won’t be seeing come January.

[Grins]

3. I've told the few maga skeptics I know...

…”You may think climate change is all one big hoax; but your insurance company’s actuarial department doesn’t.”

[Kaleva]

4. People have been warned for decades

[BoRaGard]

5. "Climate change is not real. A lib plot." - G.O.P.

Repubes are going to have to up their lie game as the consequences of real climate change continue to mount. But they are up to the task. repubes are the greatest and most dangerous liars in American experience.

[modrepub]

7. Climate Change Was Always A Battle

between the Fossil Fuel industry and the Insurance/Banking industry. The M$M's framing of that it was a battle of "Big Government" versus cheap energy was a horrible mistake.

The funny thing is we probably never got "cheap energy" for ignoring the problem and now we have the double whammy of financial impacts of uncertain climate extremes to add onto our malaise.

[Passages]

8. Green New Deal

Climate change and inequality are inextricably linked. We cannot tackle one without addressing the other. A Green New Deal would take on both.

To tackle the climate crisis at the speed that justice and science demand, a Green New Deal would upgrade our infrastructure, revitalize our energy system, retrofit our buildings, and restore our ecosystems. In so doing, a Green New Deal would cut climate pollution while creating millions of family-sustaining jobs, expanding access to clean air and water, raising wages, and building climate resilience. To counteract inequality, those benefits would go first and foremost to the working class families and communities of color that have endured the brunt of the fossil fuel economy.
https://www.sierraclub.org/trade/what-green-new-deal