E&E News: “‘Negative’ Outlook Given to US Homeowners Insurance Sector”
This article quotes RFF Nonresident Fellow Carolyn Kousky about the growing risk of weather-related disasters for homeowners and homeowners insurance companies.
A leading credit rating firm said Monday that U.S. insurance companies that sell homeowners policies face a future of major losses — prompting the firm to assign the homeowners sector a “negative” outlook for the first time.
AM Best said it dropped its outlook for the home insurance sector from “stable” to "negative" in large part because of “elevated natural catastrophes” and “more frequent” weather-related events that cause major home damage.
The report cites the recent Hawaii wildfires, Hurricane Idalia in Florida, severe storms in the Southeast and major flooding in the Northeast from excessive rain.
“The growing concern is that these risks are projected to just be continuing their upward trend,” said Carolyn Kousky, associate vice president for economics and policy at the Environmental Defense Fund.
Common Resources — Oct 13, 2022
Reflecting the Protection of Nature in Insurance
Healthy natural systems can reduce risks to households when a natural disaster strikes. In this excerpt from her new book, RFF University Fellow Carolyn Kousky explores how insurance can facilitate investments in nature and reduce disaster risk.
Media Highlight — Nov 13, 2023
Chesapeake Bay Journal: “Salt Patches, a Product of Rising Seas, Are Spreading Rapidly on the Chesapeake’s Eastern Shore”
A peer-reviewed article coauthored by RFF Senior Fellow Becky Epanchin-Niell is the subject of an article about saltwater intrusion in the Chesapeake region.
Resources Radio — Oct 17, 2023
The US Wildfire Workforce, with Emily Browne
Emily Browne discusses her experience fighting and preventing wildfires in Alaska with the US National Park Service.
Resources Magazine — Oct 4, 2023
As Sea Levels Rise, So Does Wastewater
Sea level rise poses a threat for waste disposal infrastructure. In houses with septic systems, rising wastewater can cause unhygienic overflows and system failures. More funding and community involvement can help address this expensive, growing problem.