Climate risk: seeing beyond the smoke of wildfire
Climate Risk is InsTech’s monthly newsletter dedicated to climate-related insurance news - you can sign up for free here.
Beyond the smoke: understanding and mitigating wildfire risk
Wildfires are growing in severity and intensity. According to Swiss Re, wildfires have cost the insurance industry more than $70 billion over the last decade.
Political issues are also putting wildfire risk high on the insurance agenda. New regulations, especially in California, are making it harder for insurance companies to profitably provide coverage. This has resulted in several insurers withdrawing from the state. It is becoming increasingly important to have an accurate understanding of wildfire risk to stay competitive in the market.
InsTech’s latest report ‘Beyond the smoke: understanding and mitigating wildfire risk’ examines how wildfire risk is changing, what data and modelling solutions are available for underwriting and what the future holds for wildfire risk management.
The combination of climate change, more buildings in at-risk locations, politics and evolving technology mean that there will be a lot of new developments in the wildfire insurance space over the coming years. Ultimately, there is likely to be a convergence around a few successful organisations offering data, models and technology solutions. To learn more about the companies innovating in this space, you can download the report for free now here.
Arbol, an MGA specialising in parametric insurance, has been growing rapidly and expanding since we last spoke a year ago. In podcast episode 274, InsTech’s Henry Gale catches up with Arbol’s CEO, Sid Jha, about the MGA’s new products to help companies manage climate risks beyond insurance. The discussion touches on carbon credit insurance and parametric insurance for renewable energy.
Salman Siddiqui at Moody’s Analytics and Adiraj Maitra at Canopius join Matthew Grant in this podcast to discuss sustainability in the insurance industry, centring the conversation around the recent Moody's report on incorporating ESG into P&C underwriting.
We recently spoke to Rebecca Fuller, Managing Director and Global Fixed Asset Advisory Services Leader at Kroll, about the company’s property insurance offering. Rebecca and her team assists global corporates, brokers and insurance companies with valuation issues.
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Head of Data & Methodology | Creative leader building data solutions for risk, compliance, and sustainability products
11 个月Stephen Guerin