Amid news of large insurers leaving homeowners’ markets across the country, what must be done to address both the long-term climate crisis—and the immediate impact on consumers, businesses, and financial markets?

Milliman, Inc. (“Milliman”), the premier global consulting and actuarial firm, today announced that Millennial Specialty Insurance, LLC (“MSI”), an indirect subsidiary of BRP Group, Inc. (NASDAQ: BRP), has chosen Milliman Bungalow (“Bungalow”) as its insurtech platform for a complete flood insurance rating solution.

Rebuild by Design, an organization that helps communities build resilience, collaborated with Milliman to estimate how future coastal flooding in New York City could cause displacement of residents.

Recent floods in major cities around Southeast Asia and other parts of the world have reopened the conversation on flood coverage in insurance products and the means by which they will be financed.

As P&C insurers face a greater number of natural disasters with a warming planet, catastrophic models can help the industry better understand climate risk.

A new pricing approach called Risk Rating 2.0 harnesses catastrophe models to help better understand flood risk.

The U.S. residential real estate market likely has not fully accounted for the financial costs of flooding, with few homeowners having flood insurance. 

Utilizing available data, Milliman has developed a take-up rate model that can help private insurers better understand how to test their products, acquire new business, and grow their written premium.

Nancy Watkins speaks with Jim Albert about flood insurance’s coverage gap, the adversarial position of the insurance industry, the wind-water conflict in claims, and climate change.

How are leading investors factoring market-level climate risk into decision-making?

The visibility of climate’s impact on property hazard is increasingly leading individuals and their chosen leaders to ask: how might an increase in hazard affect the desirability of living in various communities, and how do we manage the socioeconomic impacts?

This report provides estimates of the insured and uninsured flood exposure of single-family residences in the contiguous United States from both storm surge and inland flooding.

In recent years, the private flood sector has grown rapidly and will likely continue to grow until the new market significantly closes the U.S. flood “protection gap.”

This episode of Critical Point discusses the future of flood insurance and what protecting a home from flood might look like a few decades from now.