Homeowners in Florida, Louisiana, and the Carolinas face a shrinking pool of insurers willing to write new policies. At least three carriers have pulled out of coastal markets since January, citing catastrophic storm exposure.
State-backed insurers of last resort are seeing enrollment surges, raising concerns about taxpayer liability in the event of a major hurricane season. Regulators are pushing for rate adequacy reforms.
Real estate professionals warn that the insurance crisis is already dampening home sales in affected regions as buyers struggle to secure affordable coverage.
