As natural disasters become more frequent and more costly, the struggling insurance market could affect the entire economy. To weather the storms ahead, insurers will need to make some changes.
flood insurance Archives - State of the Planet
A new article co-authored by the Sabin Center for Climate Change Law provides key recommendations on how to change flood insurance for a changing climate.
New research reveals that nearly half of U.S. states do not have requirements for sellers to disclose a property’s history of flood damages to a homebuyer.
As New York Gov. Andrew Cuomo acknowledged last Tuesday, “We have a new reality when it comes to these weather patterns; we have an old infrastructure, we have old systems. That is not a good combination.” This is exactly why the flood insurance market, as a tool for change, is of interest to the mayor’s office, and should be considered more widely by other coastal cities.