Property Insurers Curb New Policies in Cat-Prone Areas Nationally

Wildfires and insurance in CA

Insurance companies are pulling back on homeowners’ policies in vulnerable areas nationally out of fear of floods, storms and fires made worse by climate change and soaring costs of rebuilding.

Climate Change Not ‘Serious Risk’ to Financial Stability, Fed’s Waller Says

climate change and higher insurance rates

Climate change does not pose such “significantly unique or material” financial stability risks that the Federal Reserve should treat it separately in its supervision of the financial system, Fed Governor Christopher Waller said on Thursday.