White Paper

Severe Weather Events Are Increasing and Real Estate and Construction Can Help Safeguard Against Future Risks

Reflecting on the impact of severe weather on property maintenance costs can be overwhelming. But tapping into natural defenses is essential to managing climate risks in the future.

White Paper Summary

“When you hear conversations, either from a policy or an industry standpoint, discussing climate change and the increasing frequency, and severity, of weather events, it can be a bit overwhelming,” said Helen Eichmann, senior vice president for Allied World’s North America environmental division.

Because much of the dialogue around the perils caused by acute weather changes is held at a macro scale — centering around policy and regulation — from an implementation standpoint, developers may view their risk prevention options as costly, limited or far too complex to really tackle.

But in her work, Eichmann has found that there are things that real estate development and construction teams can do at any level: “You don’t need 500 acres of land or shoreline to necessarily be part of implementing a natural infrastructure related project. You can do things at the property level, at the neighborhood level.”

As a global insurer and reinsurer, Allied World focuses on providing specialty products that support their clients’ risk management objectives. And by cultivating a decade-long relationship with the National Wildlife Federation (NWF), Allied World has also aimed to contribute to the broader industry conversation around the role of nature-based solutions in hazard risk reduction.

Recognizing that an insurance policy is just one element of a risk strategy, Allied World and NWF have partnered to provide resources that help clients determine, from an environmental impact position, “What can we do for this property now?”

To learn more about Allied World please visit their website.

Allied World is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions.

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