In Hawaii, where insured property losses exceed $3 billion dollars, homeowners face rising insurance premiums as a result of climate disasters. Californians are familiar with this pain: State Farm and Allstate have already stopped offering homeowner policies in the state due to a combination of government-imposed rate caps, expensive reinsurance,... See more

If hazards stop being rare, stop being predictable, and/or produce damages that aren’t easily reparable (or suggest that a building should not be rebuilt in that location), the existing market structures for both property insurance and property more broadly won’t work.

Two bills recently passed requiring owners and sellers in New York State to disclose flooding to tenants and buyers. Robert Carroll, the assemblymember who sponsored them, says it’s simply best practice to warn people moving into homes about flooding, especially since heavy rainfalls are now impacting areas no one expected to have issues. (Before... See more