Insurance push to relocate climate-threatened homes

Danish insurance industry group, Forsikring & Pension, proposes a state-funded 600 million DKK annual subsidy until 2030 to relocate or demolish homes threatened by climate change, specifically from extreme weather like storms, cloudbursts, and rising groundwater. According to director Kent Damsgaard, future property insurance may become unattainable if no action is taken. The proposal includes up to half a million DKK for owners to move houses within a property or to a new location if climate-proofing is impossible. A demolition fund is aimed at repeatedly damaged properties where climate-proofing is not feasible, to dismantle or move 1950 houses annually by 2030. Environmental Minister Magnus Heunicke states there are no current government plans to allocate funds for moving or demolishing flood-prone properties.