We push for rules to build resilience and enable a just and equitable transition. Requiring regulators, financial institutions, and other corporations to reckon with the costs of climate change is an important part of the puzzle.
The rising costs and decreased availability of insurance as a result of increasingly severe climate change-driven disasters, coupled with inadequate insurance regulation, is a growing crisis contributing to housing unaffordability. We are bringing people together to develop and demand community-led solutions that advance climate, housing, and racial justice.
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We Can’t Price Our Way Out of the Home Insurance Crisis
Climate change is driving more severe and frequent disasters and higher recovery costs. Home insurers have responded by jacking up rates and retreating from markets rather than working with households and communities to bolster resilience and lower the risk. This tactic reduces the insurance industry’s exposure and protects its profits, but families nationwide are finding…
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Press Releases
Press Release: California’s Insurance Solvency Proposal Needs Strengthening To Deliver
The insurance industry’s ongoing failure to adequately manage and mitigate climate-related risks requires clear and precise requirements from the California Department of Insurance (CDI) according to new comments from Public Citizen and Americans for Financial Reform Education Fund.
AFR In the News
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Law360: Zillow’s Climate Score Removal Sparks Insurance Concerns
“I would love to see more data from the Federal Insurance Office,” said Caroline Nagy, an affordable housing expert with progressive policy group Americans for Financial Reform, in an interview.
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InsuranceNewsNet: California proposes greater ‘solvency’ oversight of insurers; industry balks
“I think it will be a good step in the right direction of trying to get a handle on these climate related risks, especially in California, where there’s so many obvious problems in the market,” said Alex Martin, policy director for climate and finance at Americans for Financial Reform, in an interview with InsuranceNewsNet.
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Public Citizen: California Department of Insurance Long-Term Solvency Planning Proposal Response
Public Citizen and Americans for Financial Reform Education Fund support the efforts by the California Department of Insurance (CDI) to require insurers to engage in long-term solvency planning in response to emerging risks and urge strengthening of the proposed framework.
Law360: Zillow’s Climate Score Removal Sparks Insurance Concerns
We Can’t Price Our Way Out of the Home Insurance Crisis
