Across the United States, more frequent extreme weather is starting to cause the home insurance market to buckle, even for those who have paid their premiums dutifully year after year. Christopher Flavelle, a climate reporter, discusses a Times investigation into one of the most consequential effects of the changes.
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From the New York Times, I'm Sabrina Tavernisi, and this is the daily today, my colleague Christopher Flavell on a Times investigation into one of the least known and most consequential effects of climate change insurance and why it may now be a concern for every homeowner in the country.
It's Wednesday, May 15.
So, Chris, you and I talked a while ago about how climate change was really wreaking havoc in the insurance market in Florida.
You've just done an investigation that takes a look into the insurance markets more broadly and more deeply.
Tell us about it.
Yeah, so I cover climate change in particular, the way climate shocks affect different parts of american life.
And insurance has become a really big part of that coverage.
And Florida is a great example.
As hurricanes have gotten worse and more frequent, insurers are paying out more and more money to rebuild people's homes.
And that's driving up insurance costs and ultimately driving up the cost of owning a home in Florida.
So we're already seeing that climate impact on the housing market in Florida.
My colleagues and I started to think, well, could it be that that kind of disruption is also happening in other states, not just in the sort of obvious coastal states, but maybe even through the middle of the US.
So we set out to find out just how much it is happening, how much that Florida kind of turmoil has in fact, become really a contagion that is spreading across the country.