Insurers Lead Way On Climate Risk Resilience, Triple-I Tells U.S.
Existing
"The
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"FIO's aim.... can be met using the information insurers already report, as well as other publicly available data. While there might be value in seeking more granular versions of this data from insurers, it isn't clear that any such benefits would exceed the negative consequences. Further,
The insurance industry is evolving from a focus on "detect and repair" to "predict and prevent," the
* Improved land-use and building codes
* Use of sophisticated data and analytical tools to inform underwriting, reserving, and pricing
* Public- and private-sector collaboration to address the decades-long trend of populations moving into harm's way, which drives up the cost of extreme events; and
* Educating the public about advanced mitigation and the role of insurance as part of their resilience planning
"Insurers are taking a responsible approach toward promoting a more sustainable and resilient environment and economy. In addition to serving as financial first responders, they are working with the communities and industries they serve to get out in front of climate risk, reduce the impact of extreme events, and improve resilience," the
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Original text here: https://www.iii.org/press-release/insurers-lead-way-on-climate-risk-resilience-triple-i-tells-us-122122
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