Climate risks for insurers: Why the industry needs to act now to address climate risk on both sides of the balance sheet
Financial regulators worldwide are grappling with the impact of climate change and the increasing risk it presents for financial systems, while climate scientists call for...
FEMA overhauls the National Flood Insurance Program for climate change
Climate change and its devastating impact are accelerating faster than ever, according to a new report from the United Nations’ Intergovernmental Panel on Climate Change....
FEMA Will Take Climate Change Into Account In Flood Insurance Overhaul
Currently, the Federal Emergency Management Agency (FEMA) provides $1.3 trillion in coverage for more than 5 million policyholders in 23,500 communities nationwide through the National Flood Insurance Program....
FEMA Knows a Lot About Climate-Driven Flooding
The Federal Emergency Management Agency (FEMA) has been collecting a lot of information about flood risks across America, including the increased risk of flooding linked...
Smaller but More Frequent Catastrophes Loom Over Insurance Sector
Floods in Germany, ice storms in Texas and heat domes in the Pacific Northwest are focusing attention in the insurance industry on the cumulative damage wrought by clusters of second-tier...
Fannie and Freddie Mortgages Vastly Underestimate Flooding Risks
Climate-induced flooding has inundated coastal cities, yet new reporting from Politico shows that government mortgage lenders like Fannie Mae and Freddie Mac continue to pump...
FEMA Is Changing Its Flood Insurance Program. Here’s How It Will Impact Texans
Roughly 86% of Texans with federal flood insurance could see their premiums go up next year when a new program goes into effect, according to...
With Start of Hurricane Season, It’s Time to Consider Flood Insurance
This year’s hurricane season began early, with a named storm forming before the official start on June 1, and it is expected to be active....