"Changing weather patterns have increased the frequency and severity of catastrophic weather events," says Church Mutual about dropping coverage in TX

[Astrid]

Already occurring.

Atlantic hurricanes are getting stronger faster than they did 40 years ago​

Atlantic hurricanes are getting stronger faster than they did 40 years ago

The probability of a weak hurricane strengthening to become a major hurricane within 24 hours has more than doubled in recent decades.

www.popsci.com

Journal of Geophysical Research
10 July 2008

Increasing hurricane wave power along the U.S. Atlantic and Gulf coasts​

If that were all that was happening, you wouldn't see insurance rates rising. The premium basis would remain the same for a given location and valuation. But it's increasing for homes that have been there for decades, far beyond any increase in

There's no grandfather clause for houses or
commercial property.

To say that the increase in the
number and value of buildings in
high risk areas doesn't affect insurance
rates is yec- level denial.

 

[The Barbarian]

There's no grandfather clause for houses or
commercial property.

That's not what insurance companies do. They set rates based on their expected losses. So a given structure's premium will depend on it's assessed value, modified by the level of risk.

To say that the increase in the
number and value of buildings in
high risk areas doesn't affect insurance
rates is yec- level denial.

It affects premiums, not rates. If you own a house on the coast somewhere, the number of other houses thereabouts won't affect your premium. Only the value and risk will do that. If you build and insure five more houses, your premiums will increase, but not the rates. There are lots of other factors, but the above is basically how premiums are determined.

Rate Making: How Insurance Premiums Are Set

How rates for insurance premiums are determined for property and casualty insurance and for life insurance.

thismatter.com