Hundreds of thousands of neighborhoods in the United States are seeing population decline as a result of flooding, new research suggests. Those neighborhoods are often located in areas that are growing in population overall, including parts of Florida, Texas and the region around Washington, D.C.
Tag: climate change
A New Breed of Insurer Is Battling Climate Change
The need for new ways to insure against catastrophes arises from the increasingly extreme nature of our planet’s weather. As we put more infrastructure of every kind into harm’s way, that’s leading to bigger losses for insurers. In the 1980s, the U.S. suffered an extreme weather event that cost $1 billion every four months. Now, one is happening every three weeks, according to the U.S. National Climate Assessment, released in November.
To Combat Climate Change, Builders Create Greener—and Tougher—Homes
By incorporating sustainability and resilience into home construction, developers are addressing both a cause of climate change—carbon emissions—and one of its effects—stronger storms.
Insurers Face Wave of Inquiries Over Climate Risks
The nation’s property insurance industry is coming under unprecedented scrutiny with the launch of three inquiries into how climate change is causing premiums to soar and pushing insurers to withdraw from at-risk regions.
Climate Risk Is Becoming Uninsurable. Better Forecasting Can Help.
In North America, only 51% of natural-catastrophe risk is covered. In Europe, it is 44%, and in Asia a paltry 12%. The fear is that more areas could become uninsurable. Underwriting requires confidence that models somewhat accurately reflect risks, which climate change is amplifying in scary, unknown ways.
Climate Risk Threatens Insurability of Some Coastal Communities, Analysts Warn
Coastal communities could see their property values plummet as catastrophe-prone areas spur billions of dollars in losses — and have private insurance companies scaling back or leaving certain markets altogether, a new report warns.
AIG CEO Sees Pandemic, Wars, Climate Change Among Biggest Risks
AIG Chief Executive Officer Peter Zaffino said the biggest challenge to the insurance sector over the last decade has been “unpredictable risks” including the pandemic, wars and climate change.
Home Values Could Collapse as Rising Climate Dangers Wreak Havoc on Insurance Markets, Study Says
Climate change is roiling the US home insurance market, paving the way for a massive correction in property values, a First Street Foundation study said.
U.S. Homeowners Insurance ‘Bubble’ Closer to Popping as Climate Risks Mount: Report
Tens of millions of properties around the country are insured at prices that haven’t caught up with the danger of hurricanes, wildfires and floods, according to a new report from the First Street Foundation, a nonprofit that works to define and communicate risks posed by climate change.
Reinsurers Name Climate Change as the Top Risk They Face – PwC Banana Skins 2023
The ‘Reinsurance Banana Skins’ biennial research carried out by PwC and CSFI shows respondents from the reinsurance sector identifying climate change as the most significant risk they face.