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.

Digital Insurance spoke with Behzad Salehoun, Canada insurance lead at Capco, about how insurers are navigating severe and frequent weather events with advanced data techniques and climate science.

Advances in technology could help insurers better predict climate events.

Many homeowners don't realize they are uninsured or under-insured for storm surge and flooding.

Highlights from ITC Vegas 2024.

Watch Duty has emerged as a leader among scads of apps and online platforms for tracking fire.

As this year's natural disasters bring heightened attention to the cost and availability of homeowners insurance, servicers often find themselves caught in the middle when customers see premium hikes.

Hurricane Milton was moving off Florida's east coast after cutting a path of destruction through the state, leaving residents to assess the damage from one of the most feared storms in recent history.

Recovery efforts from Hurricane Helene are currently underway, but with the incoming Hurricane Milton set to undo any progress made, insurers are waiting and watching to measure the true toll.

Estimates for insured losses from Hurricane Helene have climbed to as much as $14 billion, even as insurers are preparing for more devastation from Hurricane Milton.

Total insured wind and flood losses are predicted to be between $10.5 billion and $17.5 billion, according to CoreLogic. Earlier estimates placed the cost of insured damages between $3 billion and $5 billion.