Instant Insights / The Impact of Climate Change on P&C Insurance

Scientists have built consensus around the probability that more powerful floods, fires, droughts and storms will occur with higher frequency as the Earth gets hotter.


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Preventing devastation. Long-range forecasts for hurricanes and tornadoes could lead to better mitigation and preparedness strategies for emergency managers. (Photo: Shutterstock)

U.S. severe convective storms have grown to represent a 10-billion-dollar annual peril for the insurance industry, and their accurate prediction remains a challenging task. In addition, we now live in a world where these extremes are changing in frequency and location. For example, recent research has shown an upward trend for tornadoes in the Mid-South, and a decreasing trend in the notorious “Tornado Alley” of the Great Plains. Changes in the climate, along with changes in the human-built environment, are drastically shifting the landscape of risk associated with natural hazards.

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