Destructive Weather
has America on the brink of a Climate Insurance Collapse. We’re here to help you put the story together.
The Coalition for an Insurable Future brings together leading voices from business, finance, real estate, and risk management to address one of the most urgent and overlooked consequences of our changing climate: the collapse of home insurance.
As destructive weather events grow more frequent and severe, insurers are fleeing high-risk regions or raising rates beyond what families and businesses can afford. This isn’t a distant or abstract threat—it’s an unfolding economic crisis with profound implications for the housing market.
RELIEF
Give relief to those people who are affected
REFORM
Change the way insurance works so people aren’t left holding the bag
ROOT CAUSES
Solve the underlying problem: pollution levels that are driving extreme weather
NEW REPORT: The climate threat to the insurance industry
A landmark report by the Coalition for an Insurable Future reveals a stark future for the US economy, which could incur costs of $1 trillion by 2035 – and $3 trillion by 2050 – due to rising insurance premiums and uninsurability caused by climate change.
The analysis reveals that a sharp repricing of assets brought about by extreme weather events, the rise of uninsurable homes, and the collapse of insurance firms could trigger a recession, reminiscent of the 2008 housing crisis.
Meet Our Initial Coalition Members:
Our non-partisan group of independent experts aim to raise awareness, educate, promote discussion and convene decisionmakers to prevent what we believe could be the next catastrophic financial crisis in America. Our shared goal is to engage the industry collaboratively, steer the conversation towards solutions and identify root causes like climate risk.
EXECUTIVE DIRECTOR, INSURANCE FOR GOOD
Carolyn Kousky
Carolyn Kousky is founder and Executive Director of Insurance for Good, contributing economist at Environmental Defense Fund, and Senior Fellow at the Kleinman Center for Energy Policy at the University of Pennsylvania.
She is author of Understanding Disaster Insurance: New Tools for a More Resilient Future and an editor of A Blueprint for Coastal Adaptation. She is a member of the Federal Advisory Committee on Insurance at the U.S. Department of Treasury, a member of the High-Level Advisory Board on the Financial Management of Catastrophic Risks at the OECD, and the vice-chair of the California Climate Insurance Working Group and a member of the Green Ribbon Commission for the California Department of Insurance.
She has published numerous articles, reports, and book chapters on the economics and policy of climate risk and disaster finance and she is routinely cited in media outlets. Kousky has a BS in Earth Systems from Stanford University and a PhD in Public Policy from Harvard University.
“We are now in a game of hot potato when it comes to the risk of ever-growing climate extremes. And unfortunately, those left holding the risk are often the ones least able to handle it.”
PRESIDENT & FOUNDER, EDGEWOOD INSIGHTS
Chloe Demrovsky
Chloe Demrovsky is a purpose-driven executive leader currently serving as Executive in Residence and Visiting Clinical Assistant Professor in Global Business and Economy at the NYU SPS Center for Global Affairs and Founder of Edgewood Insights, an independent advisory firm at the nexus of risk and resilience.
She served as President and CEO of Disaster Recovery Institute International (2017-24) and held leadership roles there for more than a decade. She is a senior Forbes contributor, has appeared on all major networks and been quoted widely in the media. She was inducted to the FEMA National Advisory Council (2023-25), was a Council on Foreign Relations Term Member (2019-25), and a Crain’s New York 2023 Notable Leader. She is a current Millennium Leadership Fellow (2025-26) of the Atlantic Council, a Scott M. Johnson Fellow of the US-Japan Foundation (2018-19), a French-American Foundation Young Leader (2019) and a British-American Project Fellow (2022). Current board appointments include the French-American Foundation (Vice-Chair), OPmobility’s (EPA: POM) Global Advisory Board, The Sustainability Board Institute, and previous at the United Nations Office for Disaster Risk Reduction Global ARISE Board (2020-23) and Bard College at Simon’s Rock (Vice-Chair) (2019-24).
Fluent in four languages and a global traveler with visits to over 60 countries, Demrovsky resides in New York with her husband and two young sons.
“Climate risk has and will continue to affect millions of Americans… [it] is no longer an afterthought but is rather a conscious factor in household decisions.”
FORMER MEMBER OF CONGRESS
Carlos Curbelo
As a former U.S. Congressman from Florida, Carlos Curbelo is a leading voice on climate and economic policy. Post-Congress, his credibility in business and finance is established through his work as a political analyst for NBC News and Telemundo, where he provides insights on risk and the policy-making process. He co-founded the bipartisan Climate Solutions Caucus and now leads a public affairs firm, where he consults for corporations and non-profit groups, including in the insurance and energy sectors.
FOUNDER OF PROBABLE FUTURES
Spencer Glendon
Spencer is dedicated to making climate science accessible and practical so people can understand and prepare for a changing world. He has worked as an engineer, small business lender, researcher, and investor. He spent 18 years at Wellington Management as a macro analyst and director of investment research, exploring issues beyond traditional finance—including climate change. His collaborations with scientists and business leaders led to the founding of Probable Futures in 2020, a climate literacy initiative that offers climate data, frameworks and tools. Spencer has a BS in industrial engineering from Northwestern and a PhD in economics from Harvard. He also serves as a senior fellow at Woodwell Climate and an Executive Fellow at Harvard Business School.
RISK CHAIRMAN EMERITUS AND A FOUNDING PARTNER OF KEPOS CAPITAL LP
Bob Litterman
Bob Litterman is the Risk Chairman Emeritus and a founding partner of Kepos Capital LP. Prior to joining Kepos Capital in 2010, Bob enjoyed a 23-year career at Goldman, Sachs & Co., where he served in research, risk management, investments and thought leadership roles. He oversaw the Quantitative Investment Strategies Group in the Asset Management division. While at Goldman, Bob also spent six years as one of three external advisors to Singapore’s Government Investment Corporation (GIC). Bob was named a partner of Goldman Sachs in 1994 and became head of the firm-wide risk function; prior to that role, he was co-head of the Fixed Income Research and Model Development Group with Fischer Black.
DAVID M. RUBENSTEIN SENIOR FELLOW FOR ENERGY AND THE ENVIRONMENT, COUNCIL ON FOREIGN RELATIONS
Alice Hill
Alice C. Hill is the David M. Rubenstein Senior Fellow for Energy and the Environment at the Council on Foreign Relations. Hill served as Special Assistant to the President and Senior Director for Resilience Policy on the National Security Council in the Obama administration. An expert on the risks, consequences, and responses associated with climate change, her distinguished career combines high-level national security, policy, and academic experience.
Former Anchor, CNBC
Tyler Mathisen
Tyler Mathisen is one of the most recognized and respected figures in business journalism. His prestige comes from a nearly 30-year career at CNBC, where he co-anchored flagship programs like “Power Lunch” and “Closing Bell.” As a managing editor and trusted interviewer of countless CEOs, central bankers, and market legends, his voice and analysis have been a definitive guide to the U.S. economy and financial markets for a generation of investors and business leaders.
Our experts agree: the changing climate is skyrocketing insurance costs.
Take it from our experts: the rise in extreme weather events is causing a dramatic rise in insurance rates. As they warn, if we don’t take the threat seriously the insurance market–and the entire housing industry–is in danger of collapse.
Key Facts:
Why is my insurance getting so expensive?
Severe weather events are happening more often and causing bigger losses. Insurance companies raise their rates to cover these costs. As a result, many families are paying $500+ more per year.
Why did my insurance company drop me?
Insurance was built for the possibility of damage, not the certainty of it. As destructive weather becomes more unpredictable and extreme, companies exit those markets. This isn’t your fault. But someone has to pay.
Is this happening everywhere?
Yes. 95% of Americans have seen premium increases. It’s not just Florida and California—this crisis is hitting every corner of the country.
But I don’t even live in an area where we see extreme weather. How is that affecting me?
Your risk may be greater than you realize! Storms and fires are affecting more people every year. But even if you live in a relatively low-risk area, insurance companies distribute the cost of catastrophes across their entire service territory. Expensive disasters in one state can affect policyholders everywhere.
Will this get better?
No. Weather patterns have fundamentally changed, making extreme events permanent fixtures. And they’re only getting worse. As one executive said: “We’re approaching levels where insurers can’t offer coverage.”
What happens if I can’t get insurance?
No insurance means no mortgage. Without mortgages, property markets crash. Experts predict 20-40% of U.S. homes could face price crashes in the next five years.1
Why are so many claims being denied?
The math behind insurance is breaking down. With severe weather becoming more frequent, the traditional risk calculations no longer work. Nearly half of all homeowner claims are being closed without payment as companies struggle to balance payouts with the reality of increased losses.
Is this worse than 2008?
Yes. The 2008 crisis was caused by bad loans that, while painful, could eventually be fixed. This crisis is caused by permanent changes to weather patterns that make homes riskier to insure.
Who should pay?
That’s the big question everyone’s asking. Insurance companies can’t carry it all, consumers can’t afford it all. We need shared solutions.
What can I do?
Understand your risk, shop early, and consider property improvements. But remember: individual actions won’t solve a systemic problem.
Where do I get reliable info?
Seek data-driven sources and share credible information. This affects everyone, and awareness drives solutions.
Resources:
AXIOS
Guide to extreme weather risks across the U.S.
First Street
Research database & national risk reports
Climate Check
Climate risk assessment for properties & portfolios
Climate Valuation
Personalized risk & insurability analysis
Farmdoc
Crop analysis, tools & data for farmers
FEMA
Real-time weather alerts & disaster news
