Climate Week NYC has begun, and Jeff is speaking at multiple events this week, including the Nest Campus at the Javits Center and the NYSE Climate and Capital Conference.
This year, climate resilience and adaptation are taking front and center stage as insurers, businesses, and homeowners face increasing climate related risks. Insurers are exploring new ways to move beyond paying for losses after disasters and instead are encouraging proactive resilience.
Potential strategies include premium discounts for homeowners who reduce risks, stronger rebuilding standards, and new approaches such as parametric insurance, which pays out a pre-specified, fixed amount immediately when a specific, measurable event occurs.
As once-rare disasters become more frequent and expensive, simply paying claims afterward is becoming increasingly difficult. Jeff suggests aligning insurance pricing, government regulation, property disclosure, and homeowner incentives could postnatally reduce risk before a disaster strikes.
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