SR554

Recognizing the strong link between climate change and skyrocketing insurance premiums.

This resolution acknowledges the strong link between climate change and the rising costs of insurance premiums in the United States. It highlights the increased risk and frequency of natural disasters due to climate change, which has driven up insurance costs for homeowners. The resolution notes that insured losses from natural disasters in the United States exceed $100 billion annually, and insurance costs have more than doubled from 2013 to 2022. It also points out that insurance premiums have increased 40 percent faster than inflation and are projected to rise another 8 percent in 2025.