Category: Insurance Flood

A climate nonprofit plans to revive a key federal database tracking billion-dollar weather and climate disasters that the Trump Administration stopped updating in May, Bloomberg reported. The database captures the financial toll of increasingly intense weather events and was used by insurers and others to understand, model, and predict weather perils across the United States….

Devastating flooding in central Texas over the July 4, 2025, weekend highlighted several aspects of the state’s risk profile that also are relevant to the rest of the country, according to the latest Triple-I Issues Brief. One is the rising incidence of severe inland flooding related to tropical storms. Tropical Storm Barry made landfall in…

. Recent developments in the atmosphere over the Caribbean Sea have led researchers at Colorado State University (CSU) to make slight improvements to their hurricane forecast for the 2025 Atlantic-basin season, in an update published Wednesday. Triple-I non-resident scholar Phil Klotzbach, Ph.D., a senior research scientist in the Department of Atmospheric Science at CSU, and…

By Lewis Nibbelin, Contributing Writer, Triple-I Louisiana Sen. Bill Cassidy recently took to the Senate floor to call for restoration of FEMA’s Building Resilient Infrastructure and Communities (BRIC) program, whose elimination the agency announced on April 4. Established by Congress through the Disaster Recovery Reform Act of 2018, the BRIC program has allocated more than $5…

The Institutes’ Pete Miller and Francis Bouchard of Marsh McLennan discuss how AI is transforming property/casualty insurance as the industry attacks the climate crisis. “Climate” is not a popular word in Washington, D.C., today, so it would take a certain audacity to hold an event whose title prominently includes it in the heart of the…

The Trump Administration’s unwinding of the Building Resilient Infrastructure and Communities (BRIC) program and cancellation of all BRIC applications from fiscal years 2020-2023 reinforce the need for collaboration among state and local government and private-sector stakeholders in climate resilience investment. Congress established BRIC through the Disaster Recovery Reform Act of 2018 to ensure a stable…

By Lewis Nibbelin, Contributing Writer, Triple-I The efficacy of collaboration and investment by “co-beneficiaries” in resilience initiatives was a dominant theme throughout Triple-I’s 2024 Joint Industry Forum – particularly in the final panel, which celebrated leaders behind recent real-world impacts of such investments. Moderated by Dan Kaniewski, Marsh McLennan (MMC) managing director for public sector, the…

The devastation wrought by Hurricane Helene in September 2024 across a 500-mile swath of the U.S. Southeast highlighted the growing vulnerability of inland areas to flooding from both tropical storms and severe convective storms, according to the latest Triple-I “State of the Risk” Issues Brief. These events also highlight the scale of the flood-protection gap…

By Lewis Nibbelin, Contributing Writer, Triple-I Spanning over 500 miles of the southeastern United States, Hurricane Helene’s path of destruction has drawn public attention to inland flood risk and the need for improved resilience planning and insurance purchase (“take up”) to confront the protection gap. Extreme rainfall and wind inflicted a combination of catastrophic flooding,…

Despite warnings from two leading insurance rating agencies that Hurricane Milton weakened or threatened Florida’s recovering home insurance market, the market “can manage losses” from the Category 4 storm “and are ready to cover yet another hurricane,” if one should come this season, according to industry experts who spoke with the South Florida Sun Sentinel….