Climate change represents a systemic risk to the US housing market. With the federal government backing the majority of US mortgages, a major flooding event can create cascading losses for homeowners, Freddie and Fannie, and ultimately US taxpayers. Better insurance markets will help improve climate change resilience and soften the blow of destructive weather. Mother Jones shares a report from the Research Institute for Housing America on the risks and opportunities for more comprehensive insurance in the face of climate change.
Annex Risk is excited to announce its selection to Guidewire’s Insurtech Vanguards program. APIs are unlocking massive opportunities for brokers and carriers, and we are thrilled to collaborate with Laura Drabik and the Guidewire team as we build the modern infrastructure for flood and earthquake insurance.
Warming oceans are increasing the intensity and severity of atmospheric rivers. These weather patterns can drop inches of rain in just a few hours, often leaving catastrophic flooding in their wake, and posing a new risk for West Coast homeowners.