Climate Change, Disaster Risk, and Homeowner’s Insurance
Presentation
Presentation by Sheila Campbell, an analyst in CBO’s Microeconomic Studies Division, and David Torregrosa, an analyst in CBO’s Financial Analysis Division, on climate change, disaster risk, and homeowner’s insurance.
Climate change is increasing the severity of natural disasters, including hurricanes, floods, and wildfires. Losses are likely to continue to rise. Climate change is also increasing the uncertainty about projected losses from natural disasters. That uncertainty is one factor causing private insurers to reduce the availability and affordability of insurance.
