Climate Change, Disaster Risk, and Homeowner’s Insurance

Congressional Budget Office

No 59918, Reports from Congressional Budget Office

Abstract: Climate change heightens the risks of wildfires and other natural disasters. As insurance payouts for losses sustained in those disasters increase and as uncertainty about future losses grows, people in many high-risk areas have faced difficulty obtaining or affording insurance coverage for their property.In this report, CBO analyzes recent changes in property insurance markets and considers alternative insurance products as well as policy approaches to increase the availability and affordability of insurance for homeowners and renters.

JEL-codes: G20 G22 G28 Q50 Q54 (search for similar items in EconPapers)
Date: 2024-08-27
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https://www.cbo.gov/system/files/2024-08/59918-Climate-Change-Insurance.pdf (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:cbo:report:59918

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