4+ hour ago  (137+ words) When looking at the average household, the authors find no statistically significant effect of premium increases on adaptation, but the average masks a sharp divergence across the wealth distribution. Lower-income households display the opposite dynamic. For them, rising premiums tighten…...

2+ mon, 2+ week ago  (106+ words) However, these correlations do warrant deeper analysis. In particular, future research should examine the extent to which prospective homebuyers in vulnerable ZIP codes will be impacted by housing price fluctuations and how that intersects with race and ethnicity. This analysis…...

3+ mon, 2+ week ago  (32+ words) Brookings Event recap'Reimagining homeowners insurance amid growing climate risk Joyce Chen Senior Events and Outreach Assistant - Economic Studies, The Hamilton Project David Wessel...

3+ mon, 2+ week ago  (177+ words) Growing catastrophic risk related to extreme weather events is a central contributor to this problem. Catastrophes such as wildfires and hurricanes impose large, concentrated losses on insurers" portfolios. Insurers manage this risk by purchasing reinsurance from global markets. However, the…...

7+ mon, 2+ week ago  (380+ words) The increasing frequency and severity of extreme weather events and the rising cost of homeowners insurance has led some states to offer grants or loans to homeowners to strengthen their roofs or otherwise make their homes more resilient. Funding lapsed…...

8+ mon, 2+ week ago  (87+ words) 2: 30 pm EST - 3: 30 pm EST 2: 30 pm - 3: 30 pm EST Rising insurance costs are capturing national attention. In 2024, average homeowners" insurance premiums increased 10. 4% following a 12. 7% rise in 2023. In Florida, non-renewals surged 280% between 2018 and 2023. Across the country, roughly one in 13 homeowners were uninsured last…...