The insurance industry can be more than just a way to deal with risk in society, and can be used as a catalyst for positive change in society, New Yorks top regulator says.

To remain relevant in a changing world, insurers must assume relevant amounts of risk in areas that matter to clients and resist the temptation to accept government involvement in difficult areas, according to ACE CEO Evan Greenberg.

Mandates from Connecticut, New York, and Rhode Island may prompt insurers to adjust existing emergency policies and procedures.

Misunderstood metrics and appraisers trying to game the system can obscure physical damage estimating performance.