"Insurers are already pulling back from California, Florida and Louisiana. Senate Democrats are trying to find out which states could be next."
"Faced with growing losses from hurricanes, floods and wildfires, major insurance companies are pulling out of California, Florida and Louisiana — a shift that threatens to undermine the economies of those states.
Now Senate Democrats are demanding that insurers tell them which places could be next.
On Wednesday, the Senate Budget Committee sent letters to 40 insurance companies, seeking documents that show where in the country those insurers have begun dropping customers, or are considering it. The committee, which has subpoena power, has given the companies until Nov. 17 to respond.
“Climate-caused uninsurability has the potential to trigger cascading failures that undermine our entire economy,” Senator Sheldon Whitehouse, Democrat of Rhode Island and the committee chairman, said in a statement. “With this investigation, we are seeking information about where the dominoes may fall next.”"
Christopher Flavelle reports for the New York Times November 1, 2023.
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