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Witnesses warn that insurance nonrenewals and soaring premiums are destabilizing housing markets
Summary
Housing and resilience advocates told the Senate committee insurers are nonrenewing policies in high‑risk areas, driving escrow spikes, forced‑placement insurance and stalled home sales that threaten household wealth and regional tax bases.
Witnesses at the Senate Environment and Public Works hearing described how climate risks have pushed some homeowners into arrears and depressed local housing markets.
Andreneka Morris, executive director of Housing NOLA, recounted a retiree she called "Miss Jane" whose monthly escrow payment rose from $318.34 to $1,639.40 between 2021 and 2023 after Hurricane Ida. "No…
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