The crisis is altering both the residential and commercial real estate markets, as deals fall apart over the cost and availability of insurance.like Florida and California is spreading, and it is fundamentally changing the real estate market in states across the country.
"We're having to really educate our internal teams," he said."Don't expect your buyers to be able to get the pricing of insurance that we have, so they'll probably to offer less for the deal.""It's directly related to climate risk," said Jeremy Porter, head of climate implications at the nonprofit First Street Foundation, which quantifies climate-related risks.
"There's three things they can do. They can drastically increase rates, they can get rid of some of their risks, or they can severely limit the type of the new business that comes in," he said."And some carriers are doing all three.", according to Insurify.
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