Is Insurance Disappearing from High-Risk Areas? NAIC President Sounds the Alarm скачать в хорошем качестве

Is Insurance Disappearing from High-Risk Areas? NAIC President Sounds the Alarm

As extreme weather events intensify across the U.S., the insurance industry is facing mounting pressure around affordability, availability, and long-term sustainability. In this exclusive interview with InsuranceNewsNet, NAIC President Jon Godfread warns that without serious investment in risk mitigation and community resilience, insurance coverage could continue to vanish from wildfire-prone, flood-prone, and coastal areas. Godfread points to Florida's success after Hurricane Andrew—thanks to stronger building codes—as a model for other states. But he also highlights a regulatory challenge: insurance regulators don’t control building codes. Their role, he says, is to connect the dots between builders, governments, and the insurance industry. Key takeaway? Insurers are more likely to stay in markets where communities proactively reduce risk. Programs like fortified roofing and wildfire mitigation are already showing results—sometimes even bringing insurers back to high-risk zones. But affordability remains a tightrope. Regulators must ensure insurers stay solvent while keeping policies within reach for homeowners. Solutions may include premium discounts for mitigation efforts and capital reforms to keep insurance markets stable. In the end, Godfread emphasizes: resilience is a shared responsibility—and waiting for the next catastrophe is not a strategy. 🛡️ Subscribe for more insights on the future of insurance and risk resilience. http://insurancenewsnet.com/subscribe