Related Experiment Video
Updated: Jun 7, 2025
05:37
An R-Based Landscape Validation of a Competing Risk Model
Published on: September 16, 2022
2.0K
Insurance and climate risks: Policy lessons from three bounding scenarios
Carolyn Kousky1, Galen Treuer2, Katharine J Mach3,4
1Environmental Defense Fund, Philadelphia, PA 19118.
Summary
Climate change impacts challenge property insurance and risk management. Near-term policy choices in Florida
Area of Science:
- Climate science and economics
- Risk management and insurance policy
- Socioeconomic impacts of climate change
Background:
- Climate change presents unprecedented risks, straining traditional planning and risk management tools like property insurance.
- US property insurance markets are experiencing turmoil, prompting policy considerations for housing and mortgage stability.
- The timing of market and institutional transitions is crucial for socioeconomic well-being amid escalating climate risks.
Purpose of the Study:
- To investigate how near-term policy and regulatory decisions in Florida's insurance markets can influence medium-term outcomes.
- To analyze the impact of these choices on risk levels, disaster recovery, housing markets, and local economies.
- To derive policy lessons for effective and equitable climate adaptation strategies.
Main Methods:
- Scenario analysis using three bounding scenarios.
- Investigation of policy and regulatory choices in Florida's insurance sector.
- Assessment of near-term (1-3 years) and medium-term (3-15 years) impacts.
Main Results:
- Policy and regulatory choices in the near term significantly shape medium-term risk landscapes and economic conditions.
- Interventions in insurance markets have cascading effects on housing, mortgage, and local economic stability.
- The study highlights the critical link between current policy decisions and future adaptation pathways.
Conclusions:
- Informed policy and regulatory choices are essential for navigating climate-related risks in property insurance.
- A longer-term perspective is crucial for developing effective and equitable adaptation strategies.
- Proactive policy interventions can mitigate risks and enhance resilience in the face of climate change.
Related Concept Videos
01:16What is Climate?
18.4K
Climate refers to the prevailing weather conditions in a specific area over an extended period. As the saying goes, “Climate is what you expect. Weather is what you get.” Climate is influenced by geographic factors, such as latitude, terrain, and proximity to bodies of water.
18.4K
01:17Design Example: Analyzing Capacity Contours for Flood Risk Assessment
40
Flood risk assessment involves careful planning and analysis to ensure the safety of communities near water retention structures. Capacity contours are a vital tool in this process, as they illustrate the potential spread of water at specific levels in a given area. In the context of building a bund across a small valley, these contours play a critical role in evaluating the safety of nearby residential areas.In this example, the bund is intended to store stormwater in the valley. The engineers...
40
01:50Global Climate Change
24.2K
Throughout its ~4.5 billion year history, the Earth has experienced periods of warming and cooling. However, the current drastic increase in global temperatures is well outside of the Earth’s cyclic norms, and evidence for human-caused global climate change is compelling. Paleoclimatology, the study of ancient climate conditions, provides ample evidence for human-caused global climate change by comparing recent conditions with those in the past.
24.2K
01:15Elastic Collisions: Case Study
13.5K
Elastic collision of a system demands conservation of both momentum and kinetic energy. To solve problems involving one-dimensional elastic collisions between two objects, the equations for conservation of momentum and conservation of internal kinetic energy can be used. For the two objects, the sum of momentum before the collision equals the total momentum after the collision. An elastic collision conserves internal kinetic energy, and so the sum of kinetic energies before the collision equals...
13.5K
01:20Actuarial Approach
63
The actuarial approach, a statistical method originally developed for life insurance risk assessment, is widely used to calculate survival rates in clinical and population studies. This method accounts for participants lost to follow-up or those who die from causes unrelated to the study, ensuring a more accurate representation of survival probabilities.
Consider the example of a high-risk surgical procedure with significant early-stage mortality. A two-year clinical study is conducted,...
Consider the example of a high-risk surgical procedure with significant early-stage mortality. A two-year clinical study is conducted,...
63
01:50Threats to Biodiversity
22.1K
There have been five major extinction events throughout geological history, resulting in the elimination of biodiversity, followed by a rebound of species that adapted to the new conditions. In the current geological epoch, the Holocene, there is a sixth extinction event in progress. This mass extinction has been attributed to human activities and is thus provisionally called the Anthropocene. In 2019 the human population reached 7.7 billion people and is projected to comprise 10 billion by...
22.1K