Weathering the Storm: Insurance in a changing climate
Source
This report explores the role of the insurance market in responding to these complex issues. It is informed by a nationwide survey of people that have home insurance, as well as interviews with homeowners and people who rent in communities affected by extreme weather events.
The research identifies five key consumer problems that are limiting the affordability and accessibility of home and contents insurance. Consumer problems with home and contents insurance:
- Complex product design
- Unaffordable premiums
- Inaccessible information on natural hazard risk
- Mitigation measures are not being considered.
- Dangerously exposed housing needs solutions beyond insurance
