Flood insurance

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.

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.

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.

The Fed said on Tuesday that Birmingham, Alabama-based Regions failed to properly monitor home equity loans and lines of credit, in part because of changes in servicing platforms.

The growth in market share comes as the national insurance program has instituted a risk-based pricing regime that's led to some fluctuation in rates.

Biodiversity — including pollinating bees, marine life, rainforests and agricultural soil — is declining at an unprecedented rate as a result of exploitation, land-use change, pollution and extreme weather.

The first and fourth-largest home insurers in the Golden State won't issue new policies because of rising construction costs and exposure to catastrophes.

For insurance companies, the impacts of biodiversity loss could translate into growing underwriting risks, notably for insurance lines such as flood, crop, liability, life and health.

AVP Bret Martin talks about how digital transformation is changing risk management.

Hurricane Ian damages under investigation in Florida bring attention to ways to protect adjuster reporting