Climate change will increase the risk of owning properties in coastal cities like Miami – but the insurance industry is
Water from Addicks Reservoir flows into Houston neighborhoods following hurricane Harvey in August. Allstate expects US$593 million in insurance losses for August due to the hurricane.
(AP Photo/David J. Phillip, File)
Insurance-linked securities aim to shield insurers and governments from huge costs following disasters. But they bear eerie similarities to the securities that caused the 2008 financial meltdown.
Hurricane Wilma in 2005 was the last major storm to rock Florida – and its insurance market.
Even though Hurricane Matthew has been downgraded to category 3, it's expected to cause substantial damage to Florida and other states in the region. The question is, who pays.
Reflecting on flood insurance
Insuring the most at-risk homes should become easier after April, but the latest deluge makes the new scheme look fragile.
When will the next big one strike?
Hurricane via www.shutterstock.com
A look at the Florida insurance market following the flurry of severe hurricanes in 2004-2005 shows that pooling risk can cut losses.
Is the government’s scheme already in deep water?
The government’s long-awaited plans on how to help the insurance industry provide flood insurance to those homes and properties most at risk was presented. They are promising, but have fundamental shortcomings…
As natural disasters happen more often, rising insurance premiums will force the private sector to take action on climate change.
Hurricane Sandy may or may not be a direct result of climate change, but what is certain is that the incidence of extreme climate events is increasing. Such events are predicted by climate models, according…