Climate-fueled insurance crisis threatens U.S. housing and financial stability

Climate-fueled insurance crisis threatens U.S. housing and financial stability

A surge in climate-driven disasters, skyrocketing insurance rates and a lack of affordable housing are creating a cascading crisis that experts warn could destabilize the U.S. economy.Lisa Sorg reports for Inside Climate News.In short:Home insurance rates are rising faster than inflation, driven by an increase in climate-related disasters, leaving many homeowners struggling to keep up.Financial experts warn of a "death spiral," where unaffordabl…

BoE updated supervisory expectations to strengthen climate risk management for insurers

As economic and insurance exposures in high-risk regions are likely to increase with climate change, impacting banks’ and insurers’ ability to support clients, the Bank of England has updated its supervisory expectations to help guide these firms in managing climate-related financial risks. In recent years, the world has faced a number of natural disasters that have been exacerbated by climate change, such as the floods which struck Spain last O…

Karla PonceThe third installment of the cycle Image Insurance Summit: The importance of securing the future is ready to address a topic of vital global importance: climate change. It will be on Tuesday, May 7, at 8:00 p.m., when Multicast 3.4 national television image and YouTube streaming platform @ExcelsiorMex will become the scene of a crucial dialogue on the challenges and opportunities that global warming represents for the insurance sector…

Employers Face Rising Healthcare Costs From Climate Risks and New Forecasting Tool Helps Them Assess the Impact

Mercer, a business of Marsh McLennan and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, and the National Commission on Climate and Workforce Health, an initiative of the Health Action Alliance (HAA), announced the launch of the Climate Health Cost Forecaster, a digital tool that enables employers to anticipate the financial impact of cl…