The Uninsurable Future of Climate Risk

California Governor Gavin Newsom highlighted the growing challenge of insuring properties against climate risks during the COP30 summit. With increasing floods, heat, droughts, and hurricanes, states like Florida, Texas, and Louisiana face heightened financial risk as climate impacts become more severe and uninsurable.

During the COP30 climate summit in Brazil, California Governor Gavin Newsom addressed the mounting challenge of insuring properties against climate risks.

He warned that areas such as Florida, Texas, and Louisiana, where extreme weather events like floods, heatwaves, and hurricanes are intensifying, might struggle to obtain home insurance.

Newsom asserted that as these climate impacts escalate, they pose significant financial risks, rendering them increasingly uninsurable.

(With inputs from agencies.)