Insurers Are Dropping Homeowners as Climate Shocks Worsen (Gift Article)
https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html?unlocked_article_code=1.ik4.VnVT.lZLmZyJDvEnM&smid=url-share
by coolbern
Insurers Are Dropping Homeowners as Climate Shocks Worsen (Gift Article)
https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html?unlocked_article_code=1.ik4.VnVT.lZLmZyJDvEnM&smid=url-share
by coolbern
1 comment
>Senator Sheldon Whitehouse, Democrat of Rhode Island and the committee’s chairman, said the new information was crucial. In an interview, he called the new data as good an indicator as any “for predicting the likelihood and timing of a significant, systemic economic crash,” as disruption in the insurance market spreads to property values.
>“The climate crisis that is coming our way is not just about polar bears, and it’s not just about green jobs,” Mr. Whitehouse said Wednesday during a hearing on the investigation’s findings. “It actually is coming through your mail slot, in the form of insurance cancellations, insurance nonrenewals and dramatic increases in insurance costs.”
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