The Climate Refuge Premium: How a New Insurance Market Is Sorting American Neighborhoods Into Winners and Casualties
A nascent class of insurance products engineered to price climate migration risk is quietly constructing a shadow valuation system for American real estate — one that operates largely outside the awareness of conventional buyers and sellers. By assigning actuarial probabilities to neighborhood-level climate resilience, these products are beginning to separate the market into properties that insurers believe will attract future climate migrants and those they expect to become stranded assets. The