Please help us improve PreventionWeb by taking this brief survey. Your input will allow us to better serve the needs of the DRR community.
- Insurers retreat as floods and fires threaten homes
- Climate-fuelled storms, wildfires increasing risk
- Costs of supplemental wind, flood policies soaring
After major providers quit California, Florida, and Louisiana, insurers are starting to pull back in other U.S. states, leaving homeowners struggling to find affordable cover for the risk of being hit by floods, wildfires or hurricanes.
Insurers are retreating from markets in hurricane-prone North Carolina and western states like Oregon, Colorado, and Arizona that have struggled with increasingly frequent and destructive wildfires in recent years.
Insurance firm Nationwide last year did not renew around 10,000 policies in parts of North Carolina due in part to risks posed by climate change and hurricanes.
"Insurance companies are having to make big payouts because of all these storms," said Kemp Burdette of Cape Fear River Watch, an advocacy group in Wilmington that has raised concerns about development in climate-risky areas.
[...]
Editors' recommendations
Explore further
Themes Insurance and risk transfer
Country and region United States of America
Please note: Content is displayed as last posted by a PreventionWeb community member or editor. The views expressed therein are not necessarily those of UNDRR, PreventionWeb, or its sponsors. See our terms of use
Is this page useful?
Yes NoThank you. If you have 2 minutes, we would benefit from additional feedback (link opens in a new window).
