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 can't sell the home and move on, but we also can't stay here without insurance. It's a Catch-22. We're just hoping that something will change and we'll be able to find a solution, but it's been a long and difficult road.

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