The accelerating pace of climate change has increased the frequency of natural disasters across the country, not only driving up insurance premiums but making it more difficult overall to find coverage, according to testimony at a Senate Banking, Housing and Urban Affairs Committee hearing on Thursday. Insurers have pulled out of states with high levels of exposure to climate-related disasters such as California, Texas and Florida — the three most populous states in the union, National Church Residences Executive Vice President of External Affairs and Strategic Partnerships Michelle Norris testified. National Church Residences is a nonprofit owner of 360 affordable housing properties across 23 states.
Source: The Growing Real Estate Insurance Crisis Has Its Day In The Senate
