Many losses are concentrated in the Pacific Palisades, where just last year State Farm dropped 70 percent of its customers - some 1,600 homeowners - due to increasing risk.
"Due to the way insurance rates are regulated" Paradoxically, among the ways that insurance rates have been regulated has been to prevent rates being set based on forward-looking, climate risk informed models!
I've also heard that the homeowners that were covered by insurance are not getting anywhere near the payouts they should be. Thank you for sharing this important piece.
"A full 37 percent of the area burned across western North America over the last 35 years is attributable to emissions from 88 corporations."
The link does not explain how fossil fuel _production_ companies cause emissions. One supposes that they sell most of their output to other firms who cause the actual emission.
Many losses are concentrated in the Pacific Palisades, where just last year State Farm dropped 70 percent of its customers - some 1,600 homeowners - due to increasing risk.
"Due to the way insurance rates are regulated" Paradoxically, among the ways that insurance rates have been regulated has been to prevent rates being set based on forward-looking, climate risk informed models!
Thanks Katharine for your work. I'm interested to hear your thoughts on hydroclimate whiplash. I wrote about the recent paper here: https://predirections.substack.com/p/boom-and-bust-or-should-i-say-bloom
I've also heard that the homeowners that were covered by insurance are not getting anywhere near the payouts they should be. Thank you for sharing this important piece.
"A full 37 percent of the area burned across western North America over the last 35 years is attributable to emissions from 88 corporations."
The link does not explain how fossil fuel _production_ companies cause emissions. One supposes that they sell most of their output to other firms who cause the actual emission.