MAINE MONITOR • August 5, 2023
Construction is booming where wildfires leveled homes in California and hurricanes left rubble in Florida — even as major insurance companies stop writing new policies in these states, deterred by the growing likelihood of climate-driven disasters. Maine is not at imminent risk of having insurance companies withdraw, but as cascading catastrophes destabilize the industry, we are vulnerable. Our state might be just one disaster away from significant disruptions in its insurance marketplace. Maine should do more to prepare for ripple effects from disasters elsewhere and for extreme weather events here.