We study government disclosure of the spatial distribution of climate risk. A regulator decides whether to reveal which region is exposed to disaster risk. Households can insure against the disaster or relocate at a cost. Disclosure induces migration out of the risky region, which reduces aggregate risk but impairs risk sharing by revealing who is exposed. Migration also lowers insurance prices by increasing the supply of and decreasing the demand for insurance. With sufficient relocation, disclosure can be Pareto improving. Unlimited ex-post disaster relief eliminates relocation, and with it the value of disclosure. A capped relief fund preserves some relocation while restoring some risk sharing, making disclosure and relief complements.