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☆ The Home Insurance Crunch: See What’s Happening in Your State
▼ + stars: | 2024-05-13 | by ( Christopher Flavelle | Mira Rojanasakul | ) www.nytimes.com time to read: +4 min

The Home Insurance Crunch: See What’s Happening in Your StateAs climate change makes disasters more frequent and severe, the insurance industry is in tumult. Even in the Northeast, where homeowners insurance was still generally profitable last year, trends are worsening. In the state of Profitability of homeowners insurance in Iowa Source: AM Best Ratio of revenue to costs for homeowners insurance statewide. To measure the financial health of the homeowners insurance industry, The New York Times assembled data that compares revenues with costs for insurers in each state. The data show that homeowners insurance was unprofitable in 18 states last year, up from eight in 2013.

☆ As Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Lose
▼ + stars: | 2024-05-13 | by ( Christopher Flavelle | Mira Rojanasakul | ) www.nytimes.com time to read: +28 min

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Persons: Dave Langston’s, Langston, ”, Dave, Linda Langston, Conn ., S.D, N.M, “, Dave Jones, Carolyn Kousky, “ It’s, Sridhar Manyem, Bill Montgomery, Kristin Heiges, Eldon Neighbor, That’s, Tom O’Meara, Kelsey Kremer, Reinsurers, Doug Ommen, Brandi Mace Storm, David Storm, Tim Kuehner’s, Brandi Mace Storm’s, haggling, Pekin, Mace Storm, Susan Crisler, Tim Kuehner, Tony J, Larson, Chesleigh Fowler, Kelley Erstine, Mr, Erstine, ” Kevin Walters, California Colorado Utah Washington Matt Child, Matthew Baker, Ariz, ” Mr, Baker, Amy Bach, United, Dave Langston, Ommen, Tim Zawacki, Lyndsey Layton, Douglas Alteen, Claire O'Neill, Matt McCann Organizations: IOWA MINNESOTA SOUTH, COLORADO ARKANSAS, NEBRASKA COLORADO, SOUTH, New York Times, Ark . Iowa Ariz, Minn, La . Iowa Iowa Neb, Neb . Texas Idaho Ga, ND Iowa, S.D . Miss, Wash . Ohio Utah Wis, University of California Berkeley, Treasury Department, Environmental Defense Fund, State, NOAA, Celina Insurance, Secura Insurance, Secura, Homeowners, Swiss, Des Moines Register, Associated, “, Iowa, Iowa Minnesota Wisconsin, Pekin Insurance, Pekin, Christensen Group Insurance, Travelers, Nationwide, Indiana Ohio Michigan Illinois, . Arkansas Kentucky Florida Tennessee, Tennessee Department of Commerce and Insurance, ”, Washington, Wildfire, California Colorado, California Colorado Utah Washington, P Global Market Intelligence Locations: Iowa, IOWA MINNESOTA, IOWA MINNESOTA SOUTH DAKOTA NEBRASKA, COLORADO, COLORADO ARKANSAS KENTUCKY ILLINOIS, IOWA MINNESOTA SOUTH DAKOTA, NEBRASKA COLORADO ARKANSAS, KENTUCKY ILLINOIS, SOUTH DAKOTA NEBRASKA, COLORADO ARKANSAS, Iowa , Minnesota, South Dakota , Nebraska , Colorado , Arkansas , Kentucky, Illinois, Cedar Rapids, Cedar Rapids , Iowa, Marshalltown , Iowa, Florida , California, Louisiana, Iowa , Arkansas , Ohio, Utah, Washington, Colo, Mass, Colo . Calif, Calif, Colo . Ala, Colo ., Mont, Fla, Ark . Iowa, Colo . Ill, S.D, N.D, Conn, Del . Idaho Fla, Miss, Neb ., Ky, Ga, Hawaii Mont, N.M . Iowa Fla, Mont ., La . Iowa, Neb . Texas Idaho, ND, Md, Ill, Wyo, Ill . Idaho, . Ill, Minn, Ind, S.D . Vt, La . Texas Mont, Neb . NC, Neb . Mich, N.M, S.D ., Va . Ore . Ohio Mo . Texas, Tenn, Wash . Ohio Utah, Okla, Tenn . Utah, Wis, S.D . Va . Ore . Ohio Mo . Texas, California, American, U.S, Pennsylvania, Arizona, Wisconsin, United States, Marshalltown, Iowa Minnesota, Iowa Minnesota Wisconsin South Dakota, Celina, Pekin, Des Moines, Minnesota, Illinois , Indiana , Ohio, Illinois , Indiana, Michigan, Arkansas, Kentucky, Tennessee, . Arkansas Kentucky Florida, Georgia , Kentucky, Mississippi, Washington State, California Colorado Utah, Salt Lake City, Phoenix, Flagstaff, it’s, Gilbert, Seattle, Colorado, Florida’s, Central City , Iowa, Georgia

☆ The vicious cycle of homeowners insurance: It's increasingly expensive to protect homes in the disaster-prone areas that need it most
▼ + stars: | 2023-09-20 | by ( Dan Latu | ) www.businessinsider.com time to read: +6 min

Earlier this year, Allstate joined State Farm in no longer offering new home insurance in California over climate risk. Across the country, 83% of prospective homebuyers said climate risk factored into where they are shopping for homes, according to a recent Zillow study. Danny Collins of Hobe Sound, Florida, told Insider in July how the bank holding his mortgage raised his monthly rate by $1,000, citing increased flood insurance. Matheus told Insider. Have you moved or are you considering a move because of climate risk and extreme weather events?

Persons: Carolyn Kousky, Berkshire Hathaway, Vox, Dave Jones, they'll, Danny Collins, Collins, Bob Stephens, Stephens, Martha Flanagan, Jason Beury, Charles Matheus, Kelly Roberge, Matheus, Dan Latu Organizations: Service, The Washington Post, Environmental Defense Fund, Allstate, Berkshire, Nationwide, National Association of Insurance, . Erie Insurance Group, Washington Post, State Farm, Farmers Insurance, Insurance, Wall Street, Journal, Hobe, Marathon Locations: Florida, Kansas, New York, California, Louisiana, United States, Coral, Florida's, Hobe Sound, Arizona, Brooklyn , New York, Kansas City , Kansas, Utica , New York, dlatu@insider.com

☆ New York City launches program to help lower-income residents recover from floods
▼ + stars: | 2023-03-10 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

New York City has introduced a new pilot program that will help residents from lower-income communities recover more quickly from major flooding events. The program is designed in part to help frontline communities get quicker relief after climate-related disasters and make up for an often slow and complex payout process from private insurance providers or the federal government. Tens of thousands of New Yorkers reside in low-lying neighborhoods where climate change has prompted rising sea levels, worsening coastal storms and more frequent flood events. Rising tides and more frequent storms in New York City will put up to $242 billion of real estate at risk of coastal flooding by the 2050s, according to a report by the city's comptroller. "I think of this pilot as one of many potential creative ways we can start improving equity and recovery," Kousky said.

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