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The federal maps are static and only periodically updated by the Federal Emergency Management Agency.

Both New York and New Jersey have adopted laws requiring the sellers of residential properties to tell buyers, and landlords to tell tenants, about known flood risks.

The U.S. has experienced a record-high 25 disasters this year that have generated at least $1 billion in damages each.

Insurers look to new tools to mitigate risks as firestorms, hurricanes, flooding, and other extreme weather events become more prevalent.

Underwriters, however, remain wary about the potential impact of climate-driven disasters.

Multiple types of insurance may cover liabilities arising from climate change cases, but the focus of coverage battles to date is on current and historic general liability policies.

According to the NOAA, as of September, 23 billion-dollar-plus climate disasters have struck the United States in 2023.

Surplus lines carriers innovate rating processes to capitalize on the potential influx of business from the admitted market.