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Sustainable restoration. As more insurance stakeholders understand the risks environmental change poses, they see the value of restoring vs. replacing after a loss. (Photo: Shutterstock)

Climate change undoubtedly presents one of the biggest challenges for insurers, their clients, and our society as a whole. The recent report by the Intergovernmental Panel on Climate Change states that the expected net present value of damages from an increase of 2°C of warming are expected to be $64 trillion by 2100. Insured losses in 2017 in the U.S. were the highest on record, at $138 billion, due to major hurricanes and storm events that experts link to climate change.

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