Bill > SRes554

This resolution highlights the dramatic increase in insurance costs related to natural disasters and climate change, noting that insured losses in the United States have grown from $8.4 billion in 2000 to over $100 billion annually, with insurance premiums rising 40 percent faster than inflation. The resolution points out that from 2013 to 2022, insurance costs more than doubled and now represent over 20 percent of mortgage payments, with significant regional variations—for example, annual premiums in 2024 averaged $14,000 in Florida and nearly $11,000 in Louisiana. The resolution further emphasizes that these rising costs are directly linked to climate change and the increasing frequency and intensity of natural disasters, and that without addressing climate change, housing will become increasingly unaffordable. Ultimately, the Senate recognizes that the escalating insurance premiums are a direct consequence of climate change and pose a significant financial burden for homeowners across the United States.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-resolution/554/all-info