The United States insurance industry is in crisis. And if you’re a homeowner or business owner in certain parts of the country, your ability to get coverage — let alone afford it — may soon disappear entirely. This isn’t some far-off projection for the 2040s. It’s happening now.

From 2017 onward, climate change has driven a surge in extreme weather events — unprecedented wildfires, devastating hurricanes, inland flooding, and derechos — all of which are breaking traditional risk models and sending insurers running for the hills. The result? A growing number of regions where home and commercial insurance is becoming unaffordable, unreliable, or outright unavailable.

Michael Barnard