Texas rates have increased 22% on average so far in 2023, twice the national rate. More billion-dollar disasters have occurred in Texas this year than any other year on record.
The European Central Bank has warned about 20 lenders that it will impose fines unless they address shortcomings in their management of climate risk, according to people familiar with the matter.
Faced with growing losses from hurricanes, floods and wildfires, major insurance companies are pulling out of California, Florida and Louisiana — a shift that threatens to undermine the economies of those states.
Congress funds a flood insurance program that many home buyers in risky areas rely on. The money is about to run out, a real estate trade group warned.
State officials trying to figure out how to stem the exodus of property insurers from wildfire-prone areas are looking with trepidation at hurricane-ravaged Florida.
