Millions Could Lose Insurance in Flood, Fire Areas | Climate Denial Crock of the Week

Millions Could Lose Insurance in Flood, Fire Areas | Climate Denial Crock of the Week

Other natural disasters such as wildfires, flash floods and hail have become increasingly costly for the industry, even though they were traditionally seen as lesser risks and classed by some insurers as “secondary perils.”

From 2010 to 2018, average insured losses from secondary perils were almost double those from primary perils such as earthquakes and hurricanes, a Reuters analysis of Swiss Re data showed.

Fires on the West Coast, record flooding in the Midwest and the ferocious hurricanes battering the Southeast will all contribute to a significant decrease in home insurance availability. Not only is that bad news for people who are worried about being able to rebuild after a disaster—for many, it’s a threat to their ability to remain homeowners at all.
“If you’re super wealthy, you can self-insure,” Keenan said. “For others, they will no doubt be forced into an eventual foreclosure because they’re defaulting on their mortgages.”

Most lenders require a mortgage holder to insure their home in order to maintain the mortgage. If the insurance company in their area decides their neighborhood is too risky to insure, then they will lose coverage and likely default on their mortgage. If the mortgage is already paid, it may be extremely difficult to sell a house that can’t be insured.

via Millions Could Lose Insurance in Flood, Fire Areas | Climate Denial Crock of the Week

One thought on “Millions Could Lose Insurance in Flood, Fire Areas | Climate Denial Crock of the Week

  1. There will be a major nuclear catastrophe in the continental United States soon. Perhaps some canadians will wake-up as a result though, in most ways it would be much too late. The Canadian governments are oblivious.

    1. From the zealous deregulating of the decrepit reactors 2. Not reinforcing the many aging plants in serious danger zones. 3.Propping up reactors ready to blow, that were closing. It is insane

    The unbelievable insanity of what fuko is doing in ohio with 50 yo reactors with holes in them from reactor breaches. Reactors on earthquake faults,
    where earthquakes occured recently.

    Solartopia Green Power and Wellness Hour – NUCLEAR FASCISM IN OHIO

    The unprecedence of keeping Diablo Canyon Opened after 6.5 earthquakes nearby.
    The continuance of operation of 56 yearold Fermi that continues to nuclear pollute lake Michigan in the worst possible ways.  It had a forced close down recently from embrittled turbines. Trump is completely stopping monitoring of its operation by the NRC and UCS.  Pure madness

    Hillary Clinton would not be following the nuclear insanity, of this madman Trummp. Trump said he would like to detonate nuclear bombs in hurricanes recently. Everything about it is a lie and everything it has done related to nuclear is insane.
    Clinton if elected, Would allow reactors on the verge of accidents like Besse, Diablo, Fermi to close .

    For all her other shortcomings, she believes in some semblence of liberal democracy and the will of constituents.

    would not allow the insanity of operators monitoring themselves that caused Fukushima that fuko now allows and is consolidating . TEPCO EXEUTIVES TRIED FOR THE UMPTEENTH TIME AND LET OFF IN JAPAN AS JAPAN PLANS TO DUMP MILLIONS OF GALLONS OF RADIOACTIVE WATER INTO THE PACIFIC

    There is a long sane precedent for monitoring reactor safety. Hillary said she was ready to reinforce reactors at risk in america, after fukushima. What have we gotten FROM FUKO THE LIAR AND PRONUKE MADMAN SINCE THEN? More radioactive rice from fukushima. A nuclear detonation because of this madman. WilDfires in the worst and, most radionuclide contaminated nuclear reservations in the world. The forced, continued operation of reactor with holes in them. The continued operation costs ratepayers and taxpayers billions and puts everyones lives in dire jeoprody. People have risen up in their states and communities but their wishes are smashed by this Crazy man. Trillions wasted on the worst possible nuclear boondogles. Insanity

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