New Delhi, Feb. 16 -- Imagine losing everything to a flood or wildfire-your home, your savings, your security-only to realise that no insurance company is willing to cover you.

The recent California wildfires have reignited global concerns about climate change and its role in intensifying natural disasters. Beyond the immediate devastation, they have also highlighted a growing crisis in the insurance industry. It is the rise of insurance deserts-regions where access to insurance becomes scarce or nonexistent due to extreme risk and unsustainable losses.

As insurers pull out of high-risk areas like California, individuals and businesses are left vulnerable, with little to no financial protection against future catastrophes.

This leaves ...