Climate change

The path to more effective hurricane preparedness lies in proactive planning, automation, and the efficient utilization of data and analytics.

The convergence of more frequent weather events that affect more people plus higher customer expectations make now a great time to get ready to communicate with the masses.

Both commercial and homeowner insureds may have to turn to parametric insurance to cover losses as carriers leave markets and force states to cover the burden.

Blazes raged through more than 2,000 acres of wildland in recent months in his county deep in the woods of Oregon, where a wet climate once made forest fires unthinkable. That's an increasingly common scene around the world — from Canada to Greece, global warming has helped fuel larger and more destructive blazes, pushing firefighting services to the brink.

(Bloomberg) --California's insurance commissioner announced a new regulatory plan backed by the industry that would allow insurers to factor future climate risks into their pricing and require them to offer more coverage in fire-prone areas.

Climate change presents uncertainty for insurance companies but also creates opportunities for technological innovation

First Street estimates that 39 million U.S. homes are insured at artificially suppressed prices compared with the risk they actually face. Of those, nearly 6.8 million homes are covered by state-backed "insurer of last resort" policies.

The lawsuit requests the creation of an abatement fund to finance climate mitigation efforts, an injunction to protect California's natural resources, damages and penalties.

Reeling from four hurricanes in 2020 and 2021 that caused $23 billion in damage, the state is undergoing an insurance calamity that is harming its economy and even reducing its population.

This year, in the spirit of innovation, Accenture used generative artificial intelligence to help distill and uncover trends, feeding submissions securely into its gen AI model.

The gap highlights the problem of under-insurance in a state that's the nation's fastest growing and also one of the most vulnerable to impacts of climate change, and where the insurance industry is already under strain.

A California homeowner called out CSAA for taking aerial photographs of his backyard, then revoking his homeowners policy due to "clutter." Experts say such images are personally identifiable information protected by state privacy laws.

The storm is slamming housing markets already beset by some of the nation's highest property insurance premiums.

Warren Buffett's firm ramped up its reinsurance exposure to the state, looking to take advantage of rising prices.

Looking at lessons from past disastrous fires, here are steps that can help reduce fire risk at the home and community level.

Consumer advocate notes that insurance regulators' standard for data collection lags regulators of other types of financial services

In other news: Foresight, a workers' comp insurer, welcomes new commercial insurance underwriter.

The use of catastrophe models and of sophisticated AI to make coverage decisions are all under debate.

Kim shares with Digital Insurance her take on what is happening in the insurtech space in terms of venture capital funding and the impact of the climate crisis on digital solutions.

Driven by weather catastrophes and higher building costs, new research showed.