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(Iowa) -- 177 Iowa scientists are linking rising property insurance premiums in the state to increasing temperatures and more frequent extreme weather events, according to the fifteenth annual Iowa Climate Statement.
“Rising insurance premiums in Iowa are driven by increased costs of labor, building materials, and reinsurance. These costs are all amplified by climate change and are escalating. In some cases, insurers are leaving certain markets, including Iowa, due to rising costs,” said Peter Thorne of the University of Iowa.
The statement, endorsed by 177 scientists statewide, warns that climate change is already impacting insurance markets across the country. States like Florida, California, and Texas have seen sharp increases in premiums as hurricanes, flooding, and wildfires become more severe.