From boardrooms to bedrooms
October 4, 2023
My blog for the Journal of Chartered Insurance Institute
https://thejournal.cii.co.uk/2023/10/04/boardrooms-bedrooms
In this blog for the Chartered Insurance Institute Journal – having followed for the last three months – I explore media coverage on state of insurance of American homes. Floods, wildfires, windstorms – a billion-dollar loss now occurs less than every twenty days – brings home insurance on the frontline of climate crisis.
Treasury Secretary Janet Yellen sounded the alarm bell: In 2020, she says, just 60% of the $165 billion in total economic losses from climate-related disasters were covered by insurance. She believes it is necessary for the Financial Stability Oversight Council (#FSOC) to examine how these shifts may affect the wider financial system.
What next for nearly 40 million insured homes in America? As more and more of them become uninsurable and/or too expensive to insure – it is increasingly becoming an emotive issue.
The Diversity Blog 