Flood: Beyond Risk Transfer

Jeff Dunsavage, Senior Research Analyst, Triple-I, 04/29/21 Half a billion people worldwide are affected by floods annually, and about 90 percent of all U.S. natural disasters involve flooding. The human and economic tolls are massive, and until recently insuring these risks and helping communities recover fell almost entirely on government programs. Improved data, analysis, and […]

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Public-Private Partnerships and Flood Resilience

Jeff Dunsavage, Senior Research Analyst, Triple-I, 04/29/21 Improved access to data, analytical tools, and sophisticated modeling capabilities has turned flood insurance from a virtually untouchable risk for insurers to an area of increasing business opportunity. These developments also have put the pieces in place for powerful collaborations between corporations, governments, and nonprofits to drive flood […]

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Flood Protection Needs to Be More Sustainable; FEMA’s Risk Rating 2.0 Is Part of the Solution

Jeff Dunsavage, Senior Research Analyst, Triple-I The Federal Emergency Management Agency (FEMA) last week unveiled details of Risk Rating 2.0 – its plan to modernize the National Flood Insurance Program (NFIP) to make it fairer and more sustainable. The changes measuring flood danger differently – gauging properties’ specific risks and replacement costs, rather than simply whether they […]

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Study Quantifies Climate Change Impact on Flood Losses

Jeff Dunsavage, Senior Research Analyst, Triple-I A new study from the nonprofit First Street Foundation projects the impact climate change may have on U.S. flood losses. The report – The Cost of Climate: America’s Growing Flood Risk – finds that, when adjusting for the long-term impact of a changing climate, nearly 4.3 million homes have “substantial” flood risk that would […]

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Why Do Disasters Keep “Surprising” Us? Resilience Culture Would Aid Preparation

Jeff Dunsavage, Senior Research Analyst, Triple-I Texas in recent days has become the latest poster child for government failure to prepare for catastrophe. A Washington Post analysis places last week’s “rolling disaster” – with more than 14 million people in 160 counties experiencing power loss and water-service disruptions due to severe winter weather – alongside the U.S. federal […]

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Community-Based Catastrophe Insurance: Four Models to Boost Resilience

Many households and small businesses don’t have sufficient savings to repair and rebuild after a natural disaster. Insurance is a vital source of recovery funds, but many are uninsured or insufficiently insured. This insurance gap doesn’t just reduce their resilience; the impact can slow the recovery of entire communities. Community-based catastrophe insurance (CBCI) – arranged […]

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Californians Warned About Mudslide Risk as Winter Bears Down on Wildfire Areas

California Insurance Commissioner Ricardo Lara is alerting citizens to review their insurance policies in order to protect themselves and their assets in anticipation of winter weather bringing the possibility of  floods, mudslides, debris flows, and other disasters to recent wildfire burn areas throughout the state. The commissioner issued a notice to insurers reminding them of their duty to cover […]

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