Climate change

October's roundup of top issues in the insurance industry discuss the potential uses for generative artificial intelligence within the industry, problems insurers might face in California and more.

Climate change is regarded by scientists as the pre-eminent factor driving long-term changes in weather, and the New York region is experiencing a severe drought — the Big Apple experienced its driest October on record.

When communities can't access affordable insurance, it can decrease home values, tank municipal bond ratings, and cripple the tax base — and this will only get worse if left unaddressed.

Risk analytics firm Climate X studied the vulnerability of all NFL stadiums, and the ones most vulnerable to climate damage aren't just those in hurricane areas.

In California, wildfire readiness is quickly becoming a financial necessity.

More than 200 people have died and thousands of homes were destroyed in Spain's worst natural disaster since 1962.

Insurance broker Marsh will start offering contracts to protect companies against fraud in the market for carbon credits, after the instruments became the subject of recurring allegations of greenwashing.

Moody's believes Florida will sell bonds to help replenish the CAT fund this spring.

The auto insurer's CEO, Mike Zukerman, has been in the role for just over one year. He wants the use of AI to 'surprise and delight' policyholders, and with CSAA's large presence in California, he expects stabilization of an insurance market greatly affected by wildfires in recent years.

For the math to pencil out, carbon projects need to eliminate CO2 for a similarly long period of time. But many offset projects store CO2 in fragile ecosystems prone to re-releasing heat-trapping gases.