Climate Insurance Trap
Camilla Hodgson: Hello, can you tell me a little bit about your situation as a homeowner? Rosabel Galen: I live in a coastal area and my home has always been at risk for flooding. But in recent years, the flooding has gotten worse and worse due to climate change. Camilla Hodgson: And how has this affected your ability to insure your home? Rosabel Galen: It's been a nightmare. No insurer will touch my home with a ten foot pole. They all say that the risk of flooding is just too high and they won't take on the liability. Camilla Hodgson: That must be very frustrating for you. Have you tried to sell your home as a result? Rosabel Galen: Yes, but it's been impossible. Without insurance, no one wants to buy the home. It's like we're trapped. Camilla Hodgson: So you're essentially in what some are calling a "climate trap." Can you tell me a little bit more about how this has impacted your life and your family? Rosabel Galen: It's been a huge burden. We c...