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Weather and risk professionals gathered in Florida for the 2021 National Disaster Resilience Conference.
A flawed approach to reporting property values leads to big losses for an insured.
The threat of wildfire destruction is expanding at a rapid rate due to climate change. Defensible space, wildfire resistant construction and resilience programs are three areas of focus pointed out by CNA loss prevention specialist Steve Hernandez.
Global climate change is making wildfires worse. What U.S. insurers and insureds need to do to prepare.
Better data analytics is enabling a number of new parametric insurance solutions from a product to cover losses caused by an active assailant to ways to manage supply chain risk.
For a low frequency, high severity peril like earthquake, businesses need to know their risk management plans before a single pebble falls out of place.
New capital is entering the market while some insurance-linked securities investors tighten their belts.
A risk management root cause analysis points out the steps that led to the disaster in Surfside. Let this be a lesson, then, when dealing with risk management for all items.
With the impact of the recent condominium collapse in Miami only beginning to take effect, the insurance litigation response is sure to be costly.
Climate change and an unwillingness on the part of owners and regulators to face up to infrastructure risks played a deadly role in the collapse of the Champlain Towers South in Surfside, Fla.
Property and inventory owners that are situated well inland may very much be at risk during a hurricane. Superstorm Sandy proved that.
Soaring losses have underwriters raising rates while backers insist on greater coverage. Developers are caught in the middle.
Farmers Insurance is on the hook for $25 million after the Oklahoma Attorney General alleged the insurer’s earthquake policy violates the Oklahoma Consumer Protection Act.
AIR Worldwide has updated its hurricane and wildfire models to get more granular insight on long-term climate risk.
After a damaging winter storm in 2011, officials in Texas received recommendations on weatherizing the state’s grid. Those recommendations were not followed, and in 2021, Texans paid a big price.
It will come as no surprise to learn that the COVID-19 pandemic was by far the biggest concern for the respondents to the WEF’s annual survey.
The frightening superlative given to fires that reach one million acres burned could become part of the risk lexicon as wildfires get larger.
Growth in the surplus market will continue as companies facing new exposures look for coverage flexibility and rate relief.
Existing flood maps consistently underestimate exposure, but the industry is determined to build better models.
Despite significant losses related to the COVID-19 pandemic, the P&C market remains solvent and stable.