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CLIMATE CHANGE

Social and economic impact

Scientifically established, yet hotly debated on the political stage, one thing that’s certain is that climate change is bringing with it a host of risks. Insurers, governments, experts, and citizens are coming together to mitigate short-term impacts and discover long-term solutions. Time is short and the implications are massive.

A warming world

Unprecedented risk and uncertainty

The economic and social impacts of climate change are both potentially massive and incredibly difficult to predict. They test the limits of risk management and modeling capabilities. There is also increasing regulatory focus worldwide on reducing its impacts. We are working hard to understand and address these challenges in cooperation with industry experts, our clients, and the larger global community.

Article

Trial by wildfire: Will efforts to fix home insurance in California stand the test of time?

As the 2020 wildfire season exceeds historical norms, California insurers and policymakers are looking for durable solutions to extinguish the threat of a homeowners’ insurance crisis.

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MCRI

A powerful climate risk coalition

Building on a foundation of expertise modeling complex risks, the Milliman Climate Resilience Initiative (MCRI) unites perspectives across industry, government, academic, and not-for-profit sectors to anticipate and measure the most pressing climate risks and drive effective responses.
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video

Flood warning: Working to provide better coverage

Re-examining one of the least-insured perils
video

Parametrics: Insuring for agriculture, livestock & climate change

Michael McCord, managing director of the MicroInsurance Centre at Milliman, discusses parametrics in microinsurance.
Products

Related Milliman products

Premium comparison platform
Premium comparison platform

Pixel

Identify new market sectors, pinpoint adverse selection, and make better pricing decisions with a web-based premium comparison tool.

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Geographic rating insights

PinPoint

Milliman PinPoint delivers relevant geographic rating insights to your system at the point of decision through a simple API.

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Modern flood insurance program

Bungalow

Milliman Bungalow is a private flood insurance plan that includes advisory loss costs, risk classification rating factors, and rating rules.

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SERVICES

Related Milliman services

Insight

Milliman climate change insight

White paper

Climate forecast: Looking beyond net-zero mortality predictions

We share our initial findings from building a prototype causal model to explore the interactions of various climate and socio-economic factors on excess mortality.

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Article

Geocoding for insurance: How to ensure precision and accuracy in the geocoding workflow

In this article, the second in our series on geocoding for insurance, we discuss how to identify potential bad results throughout the geocoding workflow.

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Article

The expected impacts of Hurricane Milton: What’s next for the Florida insurance market?

This paper reviews the expected insurance impacts of Milton and the anticipated future responses of the (re)insurance markets in Florida.

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Benchmarking survey

South African insurance industry climate progress

Key observations from the inaugural Milliman Benchmarking Climate Survey in South Africa

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