Climate change

Digital Insurance spoke with Jonathan Collura, president and CEO of Specialty Risk RE, about how reinsurers could stabilize the home insurance market in areas affected by natural disasters.

Home safety and insurance interests call for cooperation with government authorities and homeowners to mitigate risks of flood damage.

While the 22% average increase for homeowners insurance is provisionally approved by California's regulator, the carrier will have to get capital from its parent company to help cover its risks.

Jeff Gill, EY Americas insurance sector leader, shared insights with Digital Insurance.

Estimates for the financial toll of the blazes range from $30 billion to as high as $250 billion, as homeowners grapple with premium hikes and non-renewals.

The scope of the disaster depends on whether it's insured losses, property damage or overall economic impact.

Fremont, a Bay Area city of 226,000, in September became the first municipality in the nation to buy its own citywide flood insurance policy.

In an effort to feature more insurtechs, Digital Insurance has modified the format of our Meet the insurtech series.

First came a dry spell that parched the land, then a spark, followed by some wind. Suddenly, swaths of South Carolina were consumed by voracious flames.

Climate events drive up claims and premiums, federally published data and state regulators efforts show. While some say more climate mitigation efforts are needed, insurers' efforts to write coverage are questioned.

The report, based on home insurance price and availability data collected by the association of state regulators from private insurers last year, confirms rising costs and non-renewals, and the impact of climate change on these increases. The U.S. Treasury's insurance office stopped short of publicly releasing the data used for the report.

The rapid rise in the cost of both insurance coverage and taxes leaves close to half of homeowners worried about their ability to make payments.

Between the estimated damages in Los Angeles and rising home insurance prices, policyholders are left wondering how the market will fare in 2025.

Increasing weather-related risks and costs combined with companies pulling out of some states, is affecting the remaining carriers and state insurers.

Coastal habitats, coral reefs and mangrove swamps, can reduce flood losses, according to a new Swiss Re Institute study that includes analysis of flood insurance claims.

The fund, run by the EPA, received $27 billion in President Joe Biden's signature climate law to help with the deployment of solar panels, heat pumps, and electric vehicles.

Travelers Cos. said it expects about $1.7 billion of pretax losses from the wildfires that devastated Los Angeles last month.

Earlier this week, NOAA scientists and staff were told to log and clear all international contacts and communication, according to internal communications seen by Bloomberg News.

Aon, Floodbase and Swiss Re launch parametric hurricane-related storm surge insurance.

Before the wildfires, California decided to pass on reinsurance costs to policyholders. After the fires, California is considering catastrophe bonds to help shore up the state's insurer of last resort. A consumer advocate says these measures concentrate too much risk locally and do not improve home insurance availability.