Resilience & Sustainability

By bolstering confidence in the integrity of carbon offset transactions, insurers can ultimately enable greater capital flows to areas where investment is most critical.

Because infrastructure often has a long lifetime, it's crucial to understand physical climate risks and embed resilience from the outset. 

The insurance industry is seeing ways to help clients with climate risks and, more broadly, society, while also seeing business opportunities.

 

ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

This month's focus, sponsored by Oliver Wyman, is Resilience & Sustainability

Fraud accounted for $6 billion in losses to insurers and government agencies after Hurricane Katrina, but AI-based verification has come a long way since 2005.

The "Franken-storm" offers lessons for how to better protect businesses, homes and people as winds and storm surge become ever more dangerous. 

As the North Atlantic hurricane season typically has a secondary peak around mid-October, businesses need to remain vigilant about protecting their premises and people.

Although it will take time to sort through the wreckage of Hurricane Ian, it already seems clear it will mark a turning point in how we prepare for such mammoth storms.