News & Analysis as of

Property Insurance Climate Change

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (7/21)

Cozen O'Connor on

After State Farm rate hike, legislators are pressured to provide relief. Here’s what could be on the table. - “Gov. JB Pritzker wasted no time in calling on state legislators to do something about rising insurance rates...more

McDermott Will & Schulte

Canaries and coal mines, US insurers and climate change

Canaries are the most familiar of “sentinel species” – animals (and plants) that can alert us to threats to human health and the environment. Those who know their mining history also know that canaries were first used in...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Driving Loss Reduction Through State-Created Residual Insurance Markets: Environmental Defense Fund/Cornell University Report

The Environmental Defense Fund (“EDF”) and Cornell University issued a report titled: Driving Loss Reduction Through State-Created Residual Insurance Markets (“Report”)....more

WaterStreet Company

2025 Hurricane Season for Insurance

WaterStreet Company on

As the 2025 hurricane season unfolds, insurance companies prepare. Early summer is time to closely monitor hurricane forecasts, assess risks, and account for financial implications that could arise due to increased property...more

Pillsbury - Policyholder Pulse blog

Parametric Insurance: The Future-Proof Solution for Enterprise Risk

In today’s fast-paced and increasingly unpredictable global environment, large enterprises face mounting risks—natural catastrophes, climate-related disruptions, supply chain breakdowns and emerging digital threats....more

Goodwin

The Climate Premium: How Environmental Risks Are Reshaping CRE Economics

Goodwin on

Columbia’s Pari Sastry shows how the growing disconnect between climate risk and available insurance is transforming commercial real estate....more

Stoel Rives -  Ahead of Schedule

Wildfires and Property Insurance: Navigating a Shifting Landscape

As wildfires grow more frequent and severe across California, Oregon, and Washington, homeowners and businesses face mounting challenges in securing and maintaining property insurance. The Los Angeles wildfires alone have...more

Stoel Rives LLP

Wildfires, Property Insurance, and the Cost of Rebuilding Lives: Navigating the Legal Landscape

Stoel Rives LLP on

In recent years, wildfires have become an increasingly devastating force, scorching landscapes and upending lives across California, Oregon, and Washington. The Los Angeles wildfires, in particular, have left a haunting...more

Woodruff Sawyer

Managing the Risk of Floods (Updated)

Woodruff Sawyer on

In a rainy season, it's important to understand your flood risk. For insurance purposes, what is a flood? What proactive steps can be taken before a flood? How can you obtain the right insurance coverage?...more

Eversheds Sutherland (US) LLP

Insurance Policymakers Set to Curtail Climate Initiatives as Regulators Call for Federal Insurance Office Elimination

I. Recap of 2024 Climate Initiatives - Last year featured a number of investigations and initiatives by state and federal officials regarding the impact of climate risk on the affordability and availability of insurance....more

Mitchell, Williams, Selig, Gates & Woodyard,...

National Association of Insurance Commissioners (NAIC) Fall 2024 Meeting Summary

The Mitchell Williams Insurance Regulatory team of attorneys recently attended the National Association of Insurance Commissioners (NAIC) Fall 2024 National Meeting which was held in Denver, Colorado. We have prepared a...more

Jones Day

What About Your Suppliers? Insuring Against Climate Risks to Your Supply Chain

Jones Day on

More than 20 storms—11 of which will become hurricanes, and 5 of which will become Category 3 or greater hurricanes. That's one prediction for the Atlantic hurricane season. Not to worry, you say. Your operations are located...more

ASKramer Law

Weather & Climate Risk Management Part III: Regulation of Weather Risk Management Products

ASKramer Law on

Are there differences in the way in which derivatives and insurance contracts are regulated? Yes. Weather derivatives and insurance contracts are subject to totally different regulatory regimes. Derivatives are subject to the...more

ArentFox Schiff

Mega-Trends Impacting Municipal Market

ArentFox Schiff on

We are at the initial stages of a major paradigm shift that has significant implications for the municipal market over the next five to 10 years. A number of societal mega-trends will present material challenges for the...more

Farella Braun + Martel LLP

Regulatory Changes Underway To Address Dwindling California Property Insurance Market

We keep hearing about how difficult it is for our clients to get property insurance these days, both for homes and businesses in Northern California’s wildfire-prone areas. Which, of course, is most of Northern California. ...more

Pillsbury - Policyholder Pulse blog

Taking the Market’s Temperature on Coverage for Climate Change-Related Property Damage

Temperatures in Arizona this week reached over 110 degrees Fahrenheit. The water temperature in the Florida Keys was reported to reach sauna-like levels, threatening the life of habitat-sustaining coral. Atmospheric...more

Herbert Smith Freehills Kramer

Senate Committee Questions Insurers on Climate

Property-casualty insurers should take note of letters sent by the U.S. Senate Budget Committee on June 9 to prominent insurers seeking information on climate-related matters. The letters are available here and seek...more

Integral Consulting Inc.

Climate Change, Sea Level Rise, and Groundwater: Legal Implications and Environmental Challenges for Attorneys

Introduction: This article delves into the legal implications and environmental challenges posed by climate change-induced sea level rise, specifically focusing on its effects on groundwater resources. Armed with this...more

Mitchell, Williams, Selig, Gates & Woodyard,...

National Association of Insurance Commissioners (NAIC) 2022 Summer Meeting Summary

The Mitchell Williams Insurance Regulatory team of lawyers recently attended the National Association of Insurance Commissioners (NAIC) 2022 Summer National Meeting which was held in Portland, Oregon on August 9-13th. We have...more

Woodruff Sawyer

Continued Stabilization, with Exceptions: Q4 2021 Commercial Market Update

Woodruff Sawyer on

Market conditions did not change materially in the fourth quarter of 2021 from the previous quarter. We continue to see stabilization in many sectors of the commercial lines market and cyber continues to be a concern for...more

Mitchell, Williams, Selig, Gates & Woodyard,...

National Association of Insurance Commissioners (NAIC) Fall 2021 Meeting Summary

What You Need to Know: Members at the Joint Meeting of the Executive (EX) Committee and Plenary voted to move forward forming the Innovation, Cybersecurity and Technology (H) Committee. Additionally, charges for the new...more

Cozen O'Connor

Global Insurance Perspectives on Climate Change

Cozen O'Connor on

Evolving climate change data presents an ominous trend that has the potential to upend historical assumptions of actuarial science. For example, in the last several years global risk markets have weathered historically...more

Zelle  LLP

[Webinar] Managing Insurance Claims in the Wake of Catastrophes - July 22nd-26th, 10:00am CT, 16:00 GMT

Zelle LLP on

Zelle LLP invites you to join us for a week of webinars featuring insurance topics that are of critical importance to adjusters and insurance professionals. This series will cover managing insurance claims in the wake of...more

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