Climate change and home insurance
Home insurance gives confidence to the homeowner that if the house is damaged or destroyed by events outside the homeowner's control, then the insurer will act to fulfill its obligation in terms of repairs or replacement. Here the insurance company's role is to shield the homeowner from sudden and unbearable costs as well as to protect mortgage lenders, like banks and private lending entities, from risks to their investments. In many countries therefore, home insurance is an essential and mandatory aspect of the housing industry, and it is difficult to imagine how a stable housing industry anywhere . . .