Natural disasters

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.

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.

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

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.

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

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

"The main climate factors expected to influence the 2023 Atlantic hurricane activity are the ongoing El Nino and the warm phase of the Atlantic Multi-Decadal Oscillation, including record-warm Atlantic sea surface temperatures," said NOAA's Matthew Rosencrans.

Mario Greco, who led his firm out of the Net Zero Insurance Alliance earlier this year amid a wider exodus from the group, has spoken out against the network of voluntary climate alliances that represent some of the biggest names in global finance, calling them "political and bureaucratic."

Total global insured losses from natural catastrophes were about $50 billion from January through June.

Last month, Farmers Insurance Co. said it would limit sales of new home insurance coverage in California. In May, State Farm General Insurance Co., the state's biggest home insurer, said it would stop writing new policies altogether. Allstate Corp. halted the sale of new policies in the state last year.

Weather is unpredictable everywhere, and travel insurance policies can vary tremendously.

As climate change worsens, insurance coverage is expected to shrink further as rising premiums choke demand and insurers withdraw from particularly exposed areas, according to statements from the European Central Bank.

Property insurance premiums for US solar facilities have soared as much as 50% over the past year, threatening to slow their rollout and derail global efforts to cut carbon emissions.

Rising temperatures are disrupting economic activity and daily life across the globe, sapping crops, drying rivers and raising sea levels.

The problem is clear: Existing weather is visibly outrunning our combined efforts to stem global warming. Humans are losing the race against heat.

The proposed new insurance plan is intended to protect the Southeast Asian nation from infrastructure losses caused by natural disasters.

Yellen, who also chairs the Financial Stability Oversight Council, said that a spate of extreme weather events is causing insurers to raise rates on homeowners.

State Farm and Allstate are no longer writing new homeowner policies in California. But some insurtechs argue that with better data, carriers can make more nuanced decisions.

The damage has triggered the highest insurance payout in almost two decades, with experts warning that it could get worse.