There's a lot of concern that there are some places that won't be able to get insurance because of adverse weather conditions in the pattern. For example, in Florida, certain areas have uninsurable mortgages as a result of high climate risk. If we're looking at home insurance, if insurance becomes less available or prohibitively expensive, this could get in the way of home ownership. If you can't get home insurance, you can't get a mortgage at a lending institution. They aren't going to give you a mortgage if you can't get insurance. Is that correct?
On May 7th, 2024. See this statement in context.