A New York Times report has found that climate change impacts, like increased wildfires and flooding, have cost insurance companies so much money that they are raising rates, restricting coverage or entirely pulling out of some parts of the country affected by those impacts.

The Times found that the flood insurance rates in eastern Kentucky, where floods swept through 14 counties, killing dozens of people and displacing thousands more, were set to quadruple.

In California, State Farm, which insures more homeowners than any other company in the state, stopped accepting applications for most types of new insurance policies due to “rapidly growing catastrophe exposure.”

California experienced more than two dozen atmospheric river storms, storms along relatively long and narrow regions in the atmosphere, between December 2022 and March 2023 that killed 22 people and caused $3.5 billion in damages.

Similar insurance situations are brewing in Louisiana and Florida, where residents are struggling to get storm coverage due to big insurers pulling out of the states.

Read the Times’ story here.