Co-Sign Our Official Comment: Renters and homeowners need data on how climate change impacts their insurance

Federal Insurance Office

The insurance industry has been fueling the climate crisis for decades by insuring and investing in fossil fuels, and in recent years it has begun curtailing coverage due to climate harms. Now it’s actively lobbying against a Federal Insurance Office (FIO) plan to collect data on how the climate crisis is affecting insurance coverage and rates.

Here's why: The data collection plan, if strengthened, would provide the first nationwide comprehensive analysis of how climate change is impacting access to affordable insurance -- including homeowners and renter's insurance and insurance for damage from floods, fires, and wind. What does the industry have to hide?

Click “SIGN ON” to add your name to our official comment (you can also add your own additional comment too) in support of the Federal Insurance Office's data collection rule and encourage them to strengthen, finalize and enforce the rules now.

To: Federal Insurance Office
From: [Your Name]

Thank you for proposing to collect data from insurance companies on how climate change is impacting access to affordable insurance. Access to insurance is essential for me and my community’s financial and emotional security. Insurers have had decades to prepare for climate change. Instead, they’ve contributed to it -- and now they are passing the costs of wildfires, flooding, and other climate impacts on to our communities. If insurance becomes unaffordable or unavailable, this crisis could threaten our homes, life savings, and local economies.

My community needs urgent solutions to address this growing crisis.

Please collect all the data you need to understand how climate change affects insurance costs for all communities, especially traditionally underserved communities. Low-income and minority communities already face the greatest risk from wildfires and flooding. Due to a legacy of racist practices, we need to know whether insurance companies are repeating past trends of charging these communities more while providing less in the aftermath of disasters.

I know some insurers and state regulators are lobbying against this data collection. Don’t let them stop you from fulfilling your mission.

I hope you will publish a detailed report and as much data as your authorities allow to help researchers examine patterns and evaluate solutions. I also urge you to publish strong recommendations for regulators and Congress on how to protect access to affordable insurance, particularly for vulnerable and underserved communities.