Climate change

The middle of a catastrophe is not the time to discover gaps in a disbursement process. Carriers should understand the complete path from claim approval to usable funds before claim volumes spike.

Incorporating climate risks into modeling and pricing can help insurers better anticipate and manage their potential health and financial impacts.

David Tobias, chief product officer at Nearmap, shared insights with Digital Insurance around how aerial imagery is used by insurers to better understand the impact of natural disasters.

A plan backed by Democrats in the state senate wouldn't limit insurers from suing utility companies to recoup payouts to policyholders, according to a proposal seen by Bloomberg News on Tuesday.

Insurance claims tied to subsidence — a phenomenon associated with bouts of hot, dry weather that shrink the soil and destabilize the foundations on which buildings stand — hit a record last quarter, according to data provided by the Association of British Insurers.

The explosive growth of data centers, which fuel a seemingly insatiable global demand for AI services, is creating a huge demand for insurance policies covering a wide range of risks.

The new rules, which apply to about 2 million homes, were mandated by a 2020 state law requiring residents in high-risk wildfire areas to establish an ember-resistant perimeter by removing vegetation and other combustible material within five feet of a dwelling.

Tens of thousands of acres have burned in central Oregon and in the Spokane region of eastern Washington.

RockRose plans to perform work such as tree trimming and roof upgrades and use those improvements to negotiate with insurers.

For investors, "both perils translate into operational risk, earnings volatility and stranded-asset exposure," said Mohsen Rahnama, managing director and head of catastrophe modeling and insurance solutions at Moody's, in a report.

Most global data center construction is located in areas with heightened natural catastrophe peril, according to Allianz's latest report.

"Record heat underscores Europe's chronic heat risk," the authors of the Swiss Re Institute report said on Tuesday.

Recent chemical incidents in Washington and California highlight the peril of forgoing pollution coverage, writes Dennis Willette, SVP and head of environmental at Westfield Specialty Insurance.

Insurers are turning to catastrophe bonds to pass on historic levels of wildfire risk to the capital markets.

Experts examine how to adapt to a shifting hurricane forecast, AI's impact on natural resources, and how to improve underwriting and cybersecurity.

Insurers, reinsurers and brokers are already predicting increased premiums and bigger losses tied to natural catastrophes.

Properties outside flood zones carry outsized risk without insurance but client education and proactive solicitation before a storm can decrease serious delinquencies.

With rising climate peril severity and frequency, insurance risk data providers point to the technology's improved capability for processing visual information.

Organizations that prepare early will be better positioned to protect their people and minimize operational disruption when severe weather strikes.

Wealthy areas such as Beverly Hills, Malibu and Bel Air make up an increasingly large portion of the liability exposure — a dynamic that experts fear could bankrupt the program and undermine the private market.