Climate change

"Lax regulation and monitoring of property insurers makes Florida mortgage markets far more exposed to climate risk than people might think," said Parinitha Sastry, an author of a working paper by researchers at Harvard University, Columbia University and the Federal Reserve.

Greater exposure to climate risks is driving an increase in insurance premiums and decrease in insurance availability.

The two companies, units of Japan-based Tokio Marine Holdings Inc., said the decision will affect 12,556 policies with premiums of $11.3 million.

The one-year-old startup, which recently had a $500,000 funding round with Metaprop and others, helps identify properties that are better protected against natural perils.

There is a disconnect between today's insurance frameworks and the financing needed to invest in adaptation and mitigation measures.

The average premium for homeowners insurance in the US is expected to hit $2,522 by the end of the year, driven largely by intensifying natural disasters, rising reinsurance costs and higher fees for home repair, according to Insurify, a Massachusetts-based insurance-comparison platform.

Defections by U.S. states from NAIC's call for property market data reporting could widen the gap in insurance protection, climate risk solutions expert says.

Insured losses from natural catastrophes have been on a slow and steady rise.

The move comes just nine months after State Farm announced plans to stop issuing new coverage in the most populous US state.

This will be the first spring outlook since 2021 where there are no communities at risk of significant flooding, according to climate forecasters.

Strong data and resilience are key to scaling the renewable energy sources needed to combat climate change.

The jury is still out on whether the California insurance regulator's plan to let insurers use catastrophe modeling for rates will make wildfire loss coverage more widely available.

In partnership with the United Nations Capital Development Fund (UNCDF), Lloyd's will run parametric insurance training workshops in Papua New Guinea and Fiji.

The right data and tech means that insurance providers have more time and resources to focus on their customers.

Homeowners insurance rates in Florida have always been above the national average, but in recent years they have risen to unprecedented levels.

Extreme weather could aggravate growing property insurance pressures on governments.

The volume of active for-sale condo listings in the Sunshine State increased by 40% last month compared to a year earlier, Redfin said.

The strategy in question is tied to insurance-linked securities, which are dominated by catastrophe bonds (often dubbed cat bonds).

The frozen rain pellets which can destroy roofs, sidings and windows were responsible for the largest percentage of insured loss last year.

Bob Marshall, CEO of Whisker Labs, the makers of Ting talks to Digital Insurance about smart home technology.