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Insurance

Event/ConferenceFinancial RegulationRegulatory ActivitiesRisk Management

Testimony of Carolyn Kousky on Reauthorization and Reform of the National Flood Insurance Program

This testimony from a Senate Committee on Banking, Housing, and Urban Affairs hearing the reauthorization and reform of the National Flood Insurance Program (NFIP) highlights the ways in which the NFIP can improve community resilience to climate change and extreme weather events. Flood insurance has a critical role to play…
Carolyn Kousky
May 2, 2023
ReportRisk Management

Catastrophe Bonds

Catastrophe bonds are the most well-known type of ILS to transfer catastrophe risk to capital market investors and the second-largest according to volume. The first catastrophe bonds were issued in the mid-1990s and the market has been steadily growing since that time. This primer explains the general mechanics of catastrophe…
Carolyn Kousky
September 20, 2022
ReportRisk Management

Parametric Insurance for Disasters

The concept of parametric insurance, while not new, is getting increased attention as a way to provide faster and more flexible funds to victims of disasters and as a tool to provide post-disaster funds for emerging and otherwise difficult-to-insure risks. There is also hope that parametric policies can broaden disaster…
Carolyn Kousky
September 20, 2022
Adaptation as Risk ManagementBlog/News ArticleEnvironmental JusticeFinancial DisclosureFinancial RegulationPrivate GovernanceRisk Management

Climate Change Comes to Insurance

This opinion piece explains the risks climate change poses to insurers, both as underwriters and as investors. It argues that it is necessary to align incentives in the insurance industry to prevent widespread defaults that would leave policyholders unprotected and examine areas where risks are distributed inequitably.
Bridget Pals and Michael Panfil
December 3, 2021
Adaptation as Risk ManagementAgency FilingEnvironmental JusticeFinancial DisclosureFinancial RegulationPrivate GovernanceRisk Management

Comments to Federal Insurance Office on the Insurance Sector and Climate-Related Financial Risks

These comments make recommendations to the Treasury Department's Federal Insurance Office on how it can monitor, analyze, and address climate-related risks in the insurance industry.
Jack Lienke, Bridget Pals, Alex Song, Madison Condon, Michael Panfil, Stephanie Jones and Romany Webb
November 15, 2021
Adaptation as Risk ManagementBlog/News ArticleEnvironmental JusticeRisk Management

First-of-Its-Kind Insurance Report Confronts Climate Risk

This blog analyzes the recommendations in a report from the Climate Insurance Working Group, convened by California Insurance Commissioner Ricardo Lara, to the state’s Department of Insurance, local and state policy-makers, and the insurance industry regarding the role of insurance in addressing risks from climate-fueled wildfires, floods and extreme heat.
Katelyn Roedner
July 23, 2021
Environmental JusticeReportRisk Management

Breaking the Cycle of Flood-Rebuild-Repeat: Local and State Options to Improve Substantial Damage and Improvement Standards in the National Flood Insurance Program

This paper discusses the substantial improvement/damage (SI/SD) standard in the National Flood Insurance Program (NFIP) which requires property owners making significant improvements or repairs to structures in areas most vulnerable to flooding to take certain measures to mitigate their risk. It also surveys more rigorous SI/SD standards adopted by NFIP…
Dena Adler and Joel Scata
January 22, 2019