How do we deal with the catastrophe of uninsurability? | Aeon Essays

Whole regions of the world are now uninsurable, bringing radical uncertainty to the economy. How do we fix the problem?

The Florida peninsula looks like a sore thumb. It juts into the Gulf of Mexico and the Atlantic, where the water is getting warmer year on year, prompting fiercer hurricanes that can blow down houses like collapsing decks of cards. Climate scientists are convinced all hell will break loose sooner or later when a monster-sized, property-destroying storm makes a direct hit on Miami or Tampa-St Petersburg. Given three near-misses in the recent past, the experts view such a calamity as inevitable. It’s a huge risk for anyone living there – they stand to lose everything – but also for those…

saved by

• Dheera Vuppala
• Sanchit Tomar

related reading

• The Uninsurable Future: The Climate Threat to Property Insurance, and How to Stop It | Yale Law Journalyalelawjournal.org
• The growing void in the U.S. homeowners insurance market: who should bear the rising cost of climate change?nature.com
• The Insurance Apocalypse Conversation America Won't Havehamiltonnolan.com
• A Premium Crisis: Climate Change Threatens Homeowner’s Insurance, Housing, and Financial Stability – Levy Economics Institute of Bard Collegelevyinstitute.org
• Key Facts about the Uninsured Population | KFFkff.org
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• Fed’s Powell says some areas of U.S. may be ‘uninsurable’ in next decadebankingjournal.aba.com
• Up to 10% of Canadian homes are uninsurable for flooding: Here's what you need to know | Financial Postfinancialpost.com
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