After two of the most devastating hurricane seasons in recent memory, particularly for my home state of Louisiana, another one begins. On a recent return trip, as my plane descended into the New Orleans airport, I saw countless homes with blue tarps covering their roofs, nine months after Hurricane Ida wreaked havoc from Louisiana’s bayou… Continue reading Bold Action, Big Funding Needed for Hurricanes, Climate
Author: Farkas Laura
Insurers Need to Do More to Prepare for Climate Change, BoE Says
The Bank of England (BoE) said on Wednesday that insurers must fill data gaps in order to be better prepared for the impact of climate change on their operations, and that additional research on how much capital they should hold may be required. The Bank of England recently published the results of its first climate-related… Continue reading Insurers Need to Do More to Prepare for Climate Change, BoE Says
Insurance Start-Ups Face Credibility Crisis in Brutal Tech Rout
“Forget everything you know about insurance,” was the brash tagline on a banner adorning the New York Stock Exchange when Lemonade went public in July 2020. The message captured the confidence that propelled the US insurance start-up and its peers, including Hippo and Root, on to the stock market at valuations far above those of… Continue reading Insurance Start-Ups Face Credibility Crisis in Brutal Tech Rout
New Colorado Law Requires Speedier Post-Wildfire Homeowners Insurance Payouts
Coloradans who lose their homes in a wildfire could see their insurance claims paid out more speedily under a bill that Gov. Jared Polis signed into law Thursday. House Bill 22-1111 applies to owner-occupied properties lost in declared fire disasters, like the Marshall Fire that destroyed more than 1,000 structures in Boulder County in December… Continue reading New Colorado Law Requires Speedier Post-Wildfire Homeowners Insurance Payouts
P&C Insurer Digital Investments Not Enough to Offset Rising Rates, J.D. Power Finds
The streamlined user experience, seamless customer support and improved navigation that was supposed to define the digital transformation of the property and casualty (P&C) insurance industry—and improve customer satisfaction—has been overpowered by rising rates. According to the J.D. Power 2022 U.S. Insurance Digital Experience Study,SM released today, overall customer satisfaction with insurers’ digital offerings declines… Continue reading P&C Insurer Digital Investments Not Enough to Offset Rising Rates, J.D. Power Finds
U.S. Product Recalls Hit a 10-Year High
According to Sedgwick brand protection’s latest U.S. product recall index report, more than 900 million units have already been recalled in these industries during the first quarter of 2022. Not only does this mark the highest number of units recalled in a single quarter in the past 10 years, but it also eclipses average ‘annual’… Continue reading U.S. Product Recalls Hit a 10-Year High
‘Top Gun’ Heirs Sue Paramount Over ‘Top Gun: Maverick’
The family of the author whose article inspired the 1986 Tom Cruise film “Top Gun” sued Paramount Pictures for copyright infringement in connection with this year’s blockbuster sequel “Top Gun: Maverick” on Monday. According to a complaint filed in federal court in Los Angeles, the Paramount Global unit failed to repurchase the rights to Ehud… Continue reading ‘Top Gun’ Heirs Sue Paramount Over ‘Top Gun: Maverick’
Pandemic Housing Boom Puts More U.S. Buyers in Path of Wildfires
Americans looking for larger properties during the pandemic are moving to rural towns and suburbs — and driving up the price of homes with high fire risk. The median sale price of US homes with high fire risk was $550,500 in April, compared with $431,300 for homes with low fire risk, according to a recent… Continue reading Pandemic Housing Boom Puts More U.S. Buyers in Path of Wildfires
Cloud to Street’s Groundbreaking Flood Mapping Technology Enables the World’s First At-Scale Parametric Flood Insurance Product
Cloud to Street (C2S), a climate adaptation technology company that provides precise, near real-time intelligence on flooding and flood risk, today announced its partnership with parametric insurance platform Raincoat and Munich Re Group to roll out the world’s first at-scale parametric flood insurance program. This is the first country-level flood parametric program with local payouts… Continue reading Cloud to Street’s Groundbreaking Flood Mapping Technology Enables the World’s First At-Scale Parametric Flood Insurance Product
Teren Launches Essentials to Mitigate Infrastructure Risk
Teren, the climate resilience analytics company, today announced the release of its new product, Essentials. Pipeline systems and electric transmission corridors can span thousands of miles through diverse terrain, soil, and geologic, hydrologic, climatic land use conditions — a varied landscape of natural force threats and exposure to physical risk. However, businesses can holistically analyze… Continue reading Teren Launches Essentials to Mitigate Infrastructure Risk