The home insurance landscape in California and across the United States is undergoing a dramatic transformation, driven by the increasing frequency and severity of natural disasters. Watch this report for more details!

Climate risks push home insurance out of reach

Climate risks reshape US home insurance market

Rising losses from hurricanes, storms, and wildfires have forced major US insurers to retreat from high-risk states such as California, Florida, and Louisiana. This has opened the door for global players like Lloyd’s of London and Munich to step in and cover homes that are hard to insure.

Cost of Home Insurance Soars in Disaster-Prone US States

In California, only about 230,000 homes and other buildings have flood insurance policies, separate from homeowner’s insurance. This means that only 2% of the properties are covered against floods.

WION Climate Tracker: In soaked California, only 2% residents insured against flood

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