What A Day Why Climate Change Is Driving An Insurance Meltdown
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Jun 11, 2025 Anya Zoledziowski, Crooked Climate Correspondent and expert on the financial fallout of climate change, breaks down the troubling trend of rising home insurance costs. She discusses how natural disasters, especially in California, are straining insurers and affecting homeowners nationwide. Anya shares personal stories highlighting the emotional toll on communities of color and suggests potential solutions, such as innovative policies and climate superfund laws to hold fossil fuel companies accountable.
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Family's Wildfire Escape and Fear
- Callum Hanlon fled wildfires in Altadena with his family and lost nearly everything.
- He fears his insurance rates will increase and wonders if coverage will adequately address the damage.
Climate Change Increases Insurance Costs
- Climate change is driving more frequent natural disasters, leading to soaring home insurance rates.
- Insurance companies are overwhelmed and may refuse policies to high-risk homes, especially impacting families of color.
Reinsurance Role in Insurance Crisis
- Reinsurance costs are rising globally, pushing insurance companies' limits.
- Federal government could subsidize reinsurance to encourage fire and weatherproof home improvements.
