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Insurance regulators and insurtechs are working together to build climate resiliency through innovations in climate analytics and insurance coverage. (Photo: metamorworks/Shutterstock) Insurance regulators and insurtechs are working together to build climate resiliency through innovations in climate analytics and insurance coverage. (Photo: metamorworks/Shutterstock)

Climate risk is created by the shifting weather patterns. The character of extreme weather events — including heatwaves, cold surges, blizzards, flooding rainfall and droughts — is changing as they are more impactful now than at any time in recent generations.

In 2021, more than 40% of people in the United States lived in a county affected by extreme weather. What’s more, 20 different climate disasters in 2021 each cost over one billion dollars and accounted for roughly $145 billion in economic losses.

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