Natural disasters

The European Union will set up a "climate insurance alliance" to better cover losses as global warming increases the frequency and intensity of droughts, floods and wildfires.

The middle of a catastrophe is not the time to discover gaps in a disbursement process. Carriers should understand the complete path from claim approval to usable funds before claim volumes spike.

Incorporating climate risks into modeling and pricing can help insurers better anticipate and manage their potential health and financial impacts.

Thailand plans to provide government-funded disaster insurance to about 30 million households in high-risk areas, while seeking to shift some of the growing cost of floods and other catastrophes to private insurers.

David Tobias, chief product officer at Nearmap, shared insights with Digital Insurance around how aerial imagery is used by insurers to better understand the impact of natural disasters.

Tens of thousands of acres have burned in central Oregon and in the Spokane region of eastern Washington.

FlyGuys and TerraFort combine their resources to conduct on-demand damage assessments after natural disasters.

For investors, "both perils translate into operational risk, earnings volatility and stranded-asset exposure," said Mohsen Rahnama, managing director and head of catastrophe modeling and insurance solutions at Moody's, in a report.

"Record heat underscores Europe's chronic heat risk," the authors of the Swiss Re Institute report said on Tuesday.

Sen. Elizabeth Warren and other senators sent a letter to six insurers challenging their use credit-based insurance scores to determine risk-based pricing.

Edison is responsible for the first $1 billion of wildfire-related claims, which it pays using its customer-funded self-insurance program.

Insurers, reinsurers and brokers are already predicting increased premiums and bigger losses tied to natural catastrophes.

Florida changed how the legal system applies to insurance companies, making it more onerous for homeowners to use the courts to challenge denied claims or low payouts.

Organizations that prepare early will be better positioned to protect their people and minimize operational disruption when severe weather strikes.

New systems will help but insurers first need to organize institutional knowledge and review processes.

As climate change makes compound events more likely, experts warned that grappling with them is further complicated by the Trump administration's cuts to disaster work.

Human-induced changes to the global climate have "a direct and well-understood impact" on extreme heat and rainfall, according to a landmark new US National Academies report.

Competing philosophies are facing off in California's race for insurance commissioner.

Climate scientists can now quickly assess how much worse a given extreme-weather event has been made by human-caused climate change.

The path forward is to assess risk one property at a time, in close to real time, using AI.