Insurance Crisis Escalates as Providers Exit High-Risk States Due to Climate Change

An emerging insurance crisis is gripping the U.S. as natural disasters and climate change prompt home insurance providers to withdraw from high-risk states. According to Dave Jones from UC Berkeley's Climate Risk Initiative, at least 18 states have seen significant insurance rate hikes or companies pulling out entirely. Historical patterns of increased rates in disaster-prone areas like California and Florida are giving way to broader withdrawals, impacting states like Iowa, Illinois, and Kentucky. Jones advocates for a federally funded reinsurance program to support state-run "fair plans" and stabilize the insurance market.