As temperatures rise, the US Corn Belt could see insurance claims soar

As temperatures rise, the US Corn Belt could see insurance claims soar

In the United States, farmers have access to federally subsidized crop insurance — a backstop that affords them some peace of mind in the face of extreme weather. When droughts, floods, or other natural disasters ruin a season’s harvest, farmers can rely on insurance policies that will pay out a certain percentage of the expected market value of the food, saving them from financial ruin.  But that insurance program could become strained as globa…

Rising extreme weather and building practices could put insurance affordability at risk: Geneva Association

As extreme weather events and related losses increase around the world, the Geneva Association calls for action to safeguard the availability and affordability of home insurance, particularly in advanced economies. In its recent report, ‘Safeguarding Home Insurance: Reducing exposure and vulnerability to extreme weather’, the Geneva Association examines the socioeconomic factors increasing exposure and vulnerability to extreme weather events. It…