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Society needs a new approach to protecting against, preparing for and responding to floods and other natural disasters.
Emerging technologies will no doubt be expensive in their first iterations, ultimately pushing up claim costs.
Review the potential claims brokers could face from ESG issues as well as steps to reduce those professional risks.
Global warming will demand accurate data sharing among MGAs, carriers and reinsurers.
Complicating the matter is the fact that climate-fueled extreme weather can be hard to predict.
Meteorologists are describing the flooding as a 'once-in-200-years' event.
Natural disasters caused global losses of $65 billion in the first half of 2022, says a new mid-year report from Munich Re.
Around 45% of all adult homeowners believe extreme weather will damage their homes in the next 30 years.
The company analyzed over 530,000 claims from 207 countries to identify the leading drivers of corporate losses.
Insurers must learn from past wildfires to create the most accurate risk assessments for their customers.