Supercharged thunderstorms and tornadoes are ravaging the Midwest, driving insurance costs to record highs.
This story was originally published by Grist . Sign up for Grist ’s weekly newsletter here. The rising cost of homeowner’s insurance is now one of the most prominent symptoms of climate change in the United States. Major carriers like State Farm and Allstate have pulled back from offering fire insurance in California, dropping thousands of homeowners from their books, and dozens of small insurance companies have collapsed or fled from Florida and Louisiana following recent large hurricanes.
Global reinsurance firms such as Swiss Re take in premium revenue from all over the globe, insuring earthquakes in Japan as well as hurricanes in Florida, so they aren’t vulnerable to collapse during local disasters, even major ones. But the increasing trend of “attritional” losses from repeated convective storms does threaten to cut into their profit margins.
Home Insurance Ed Bolt Environment Tornadoes Ian Giacomelli Glen Mulready Grist Property Insurance Swiss Re Storm Moore Natural Disasters Disaster Accident Kelly Mahoney Types Of Insurance Tornado Outbreak Sequence Of May Erin Collins Matt Junge Gizmodo
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cozy cat sim Little Kitty, Big City arrives for consoles and PCs on May 9Lawrence is a contributing reporter at Engadget, specializing in our AI overlords, musical doodads and, of course, garden variety gaming and tech. To that end, Lawrence once lost badly in multiplayer Mario to Nintendo’s own Shigeru Miyamoto, who laughed gleefully as he threw him down a pit.
Read more »
Mariners to host 2 Hello Kitty Nights at Seattle's T-Mobile ParkHello Kitty Nights at T-Mobile Park return on April 30 and September 10 with special giveaways planned for each night.
Read more »
Kitty The Killer Clip Prep You For The Action {BC Exclusive}BC Exclusive: Check out a clip from action comedy Kitty The Killer coming to select theaters May 3rd and digital services on May 7th.
Read more »
Junked 2005 Honda AccordA Hello Kitty Edition 2005 Honda Accord in a Colorado junkyard
Read more »
Saweetie, Cynthia Erivo, Lucy Liu, Hello Kitty to Honored at 2024 Gold Gala Event2024 Gold Gala honors in L.A. to fete Saweetie, Cynthia Erivo, Lucy Liu, Hello Kitty and many more, followed by inaugural Billboard x Gold House Party.
Read more »
'XO, Kitty' Season 2 Is Filming NowAnna Cathcart in XO Kitty Season 1
Read more »