SES Risk Solutions’ Post

As extreme weather intensifies, insurance companies are raising rates or dropping coverage entirely—leaving vulnerable communities exposed to both climate and financial disaster. Our new analysis explores how this crisis intersects with housing justice, racial equity, and climate action. https://bit.ly/3NVbSBK #ClimateAction #VulnerableCommunities #PropertyInsurance

As wildfires rage and hurricanes intensify, insurance has become a critical yet increasingly unattainable safeguard for some. From California's fire-threatened landscapes to Florida's hurricane-prone coasts, residents are grappling with skyrocketing premiums and dwindling coverage options. This crisis could be signaling a deeper economic shock across the US economy. As Senate Budget Committee Chairman Sheldon Whitehouse warns, we may be on the brink of a major economic upheaval. The need for sustainable, climate-conscious policies has never been more urgent. #ClimateChange #Resilience https://lnkd.in/e_UnCzBx

Excerpt: The News The US southeast has become an epicenter of the climate crisis, after two back-to-back hurricanes, Helene and Milton, wrought devastation across six states. The scope of Milton’s damage remains uncertain, as does the total cost — both to local residents and businesses, but also to insurers. Credit agency Morningstar estimated that the insurance losses from Milton may be between $30 and $60 billion, while some estimates run to $150 billion, Sherwood reported. The damage will likely “make a dent” in many insurers’ profitability, analysts told the Financial Times, particularly in North Carolina, which isn’t typically affected by such extreme weather events. Some private insurers stopped covering climate vulnerable areas years ago because the likelihood of having to pay out was no longer worth the risk. If more leave, or up premiums, then residents will find themselves with few or no options even as their risk rises due to climate change.

Escalating disasters caused by increasing weather events are limiting the availability of private insurance carriers in some states. These challenges serve as a reminder for high-net-worth clients to understand the impact climate risk can have on insurance availability. https://lnkd.in/g5jSeeTc #AlliantPrivateClient #RiskManagement #HighNetWorth

Escalating disasters caused by increasing weather events are limiting the availability of private insurance carriers in some states. These challenges serve as a reminder for high-net-worth clients to understand the impact climate risk can have on insurance availability. https://lnkd.in/gB3ttkJz #AlliantPrivateClient #RiskManagement #HighNetWorth

Escalating disasters caused by increasing weather events are limiting the availability of private insurance carriers in some states. These challenges serve as a reminder for high-net-worth clients to understand the impact climate risk can have on insurance availability. https://lnkd.in/eefDpN4B #AlliantPrivateClient #RiskManagement #HighNetWorth

Escalating disasters caused by increasing weather events are limiting the availability of private insurance carriers in some states. These challenges serve as a reminder for high-net-worth clients to understand the impact climate risk can have on insurance availability. https://lnkd.in/d5J7kiTR #AlliantPrivateClient #RiskManagement #HighNetWorth

Escalating disasters caused by increasing weather events are limiting the availability of private insurance carriers in some states. These challenges serve as a reminder for high-net-worth clients to understand the impact climate risk can have on insurance availability. https://lnkd.in/g5xEwqq7 #AlliantPrivateClient #RiskManagement #HighNetWorth

Climate changes swirling the globe. On smaller scale some Americans are feeling the heat. Many started migrating from Florida, Texas, and California to smaller city in Midwest! Miami has been dubbed “ground zero” for climate risk and sea levels along Florida’s coast have already risen by as much as 8in (20cm) since 1950. The rise of home insurance have skyrocketed in some cases that homeowner’s insurance would rise to almost $3,000 monthly! Protecting the environment must be a top priority for all of us and IT IS NOT A HOAX 🤔 🕊 https://lnkd.in/ei_Kd4Ae