Η ασφαλιστική βιομηχανία αλλάζει ταχύτητα καθώς αυξάνονται οι κλιματικοί κίνδυνοι, λέει ο Chris Schafer της Insurify

As extreme weather events become more frequent and severe, the insurance industry is facing mounting pressure to adapt. Chris Schafer, Senior Editor for home insurance at Insurify, has a front-row seat to the changes rippling through the sector. With a career that started in journalism and evolved into content strategy and insurance, Schafer brings a unique perspective to one of the most pressing challenges facing homeowners today finding affordable, reliable coverage in an increasingly unpredictable climate.

MortgagePoint recently sat down with Schafer to explore his journey into the insurance space and to gain insights into the current state and future of home insurance.

A Unique Path to Insurance

Schafer didn’t start his career in insurance. He began as a journalist managing local newspapers, then pivoted into marketing and content strategy roles before landing at Insurify. It was a professional reconnection with Evelyn Pimplaskar, Insurify’s Director of Content, that brought him into the fold.

“Evelyn and I go way back. The chance to work with her again was a big draw,” Schafer explained. “Once I was on board, I realized how complex and fascinating insurance is, especially now, as the industry faces challenges it wasn’t designed to handle.”

The Allure of Home Insurance

Schafer finds the evolving nature of home insurance especially engaging. “The entire model is changing. Risk patterns are shifting dramatically. Today, what used to be a desirable location can quickly become a liability when severe weather hits,” he said.

He pointed to regions like the Midwest, where convective storms have become more intense, and to rising rates in coastal and wildfire-prone areas. “It’s no longer just about living near water. Severe weather is making nearly every region riskier and more expensive.”

Mentorship and Content with Heart

Schafer credits Pimplaskar with mentoring him in both insurance and content creation. “In journalism, you’re trained to be detached. In content, especially in industries like insurance, you have to connect with people. The goal is to inform in a way that’s welcoming and empowering.”

Tackling the Affordability Crisis

When asked how to address the ongoing affordability crisis in home insurance, Schafer offered a few ideas. He sees more homeowners turning to government-backed FAIR (Fair Access to Insurance Requirements) plans as private insurers back out of high-risk areas.

“FAIR plans might be the best immediate solution. They act as a safety net,” he said. He also mentioned potential funding mechanisms, like premiums and tax-based revenue, to bolster these programs.

Some experts have floated the idea of distributing risk more broadly asking policyholders nationwide to help subsidize insurance in high-risk zones but Schafer is skeptical. “Convincing someone in the Midwest to pay more so someone can live by the ocean in Florida? That’s going to be a tough sell.”

Advice for the Uninsured

For homeowners struggling to secure coverage or facing non-renewals, Schafer’s advice is simple: don’t go without insurance. “If private insurers turn you down, seek out your state’s FAIR plan. It’s designed for exactly this scenario. Going uninsured is risky and costly in the long run.”

A Government Gap

On whether the government is doing enough to protect at-risk homeowners, Schafer is candid. “No, they’re not. But the truth is, no one really has a comprehensive solution. Look at Florida and California different politics, same crisis. It shows this is a systemic issue, not a partisan one.”

Affordability May Be Redefined

With insurance premiums soaring some by more than 20% between 2021 and 2023 Schafer warns that the very idea of what’s “affordable” is changing. “Insurance used to be something most homeowners could plan for. Now, in some areas, it’s becoming a barrier to homeownership.”

He noted that certain insurers are excluding specific perils like wind or wildfire, making coverage narrower and less useful. In the near future, homeowners may be expected to shoulder more of the rebuilding and repair burden themselves.

Natural Disaster Zones Are Expanding

Climate data suggests that more parts of the U.S. are falling into the “at-risk” category. From wildfires in the West to storms in the Midwest, hurricanes in the South, and coastal flooding in the Northeast the map of vulnerable regions is growing.

“We’re seeing weather events becoming more frequent and more damaging,” Schafer said. “That trend is only going to continue.”

Κοιτάζοντας μπροστά

Schafer expects 2025 to bring further rate hikes as insurers continue refining how they assess risk on a more localized level. Reinsurers, which provide insurance to insurers, are also adjusting their strategie demanding tighter alignment between rates and regional climate threats.

“Coverage is going to evolve. Expect higher deductibles, narrower policies, and greater homeowner participation in costs,” he predicted.

As the home insurance industry enters a new era shaped by climate change and economic uncertainty, voices like Schafer’s help illuminate the path forward. His insights serve as both a warning and a call to action urging homeowners, insurers, and policymakers alike to prepare for a stormier, more expensive future.