Climate change is wreaking havoc on home insurance rates and coverage nationwide. While some insurers and analysts have sounded the alarm for decades, only recently have we seen significant coverage losses in entire states and regions. Many insurers are explicitly citing climate change and the increasing risk of major impacts to properties, as the primary reason for these coverage losses. The challenges for planners are significant. Climate-driven coverage losses threaten the housing market, local government finances, and the overall resilience and well-being of communities. For planners already grappling with the uncertainty of climate risk and impacts, the added complexity and intricacies of home and property insurance may seem overwhelming. This panel discussion will help planners to untangle these complex and overlapping challenges, and explore the vital information planners will need to know to proactively weather the coming storm.
Learning Objectives:
Understand the scope of insurance coverage losses due to climate and hazard risk
Navigate the complexity of both coverage losses and climate risk in your community.
Communicate the challenges of climate risk and coverage as they relate to long-term planning.
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