Climate Center

March 29, 2018 Carolyn Kousky and Brett Lingle* Flood insurance in Puerto Rico has attracted media and policymaker attention since Hurricanes Irma and Maria devastated the island in late summer 2017 (see here and here, for example).  One reason is the incredibly low take-up rate for flood insurance, which left…Read More

March 28, 2018 Howard Kunreuther and Marilyn Montgomery Accurate flood hazard maps are needed to set risk-based insurance premiums and to effectively communicate flood risk to families, communities, and other stakeholders. Insurance not only provides financial protection against flood damages, but can also incentivize property owners to undertake cost-effective mitigation…Read More

March 5, 2018 Howard Kunreuther Many U.S. homeowners are inadequately protected against flood hazards. Relatively few purchase flood insurance and even fewer invest in cost-effective risk-reduction measures. As a result, many are left in financial straits when floods, storms, or hurricanes wreak havoc on their homes. The National Flood Insurance…Read More

February 15, 2018 Bob Meyer Co-Director, Wharton Risk Center Sea level rise threatens coastal communities around the world. In densely developed, low-lying regions such as South Florida, the threat is particularly acute.  One of the most financially vulnerable regions on the planet, an intermediate sea level rise scenario could result…Read More

February 13, 2018 SiriusXM Business Radio Powered by The Wharton School recently had a segment on the Cape Town water crisis.  Host Don Loney of the Knowledge@Wharton show discussed the current situation in Cape Town and what it tells us about the future of water in a changing climate with guests…Read More

February 13, 2018 Carolyn Kousky, Brett Lingle*, Howard Kunreuther, and Leonard Shabman In October 2018, the Wharton Risk Center’s Policy Incubator hosted a workshop designed to evaluate policy options for expanding the number of people with flood insurance in the United States, particularly those of low and moderate income. The…Read More

January 24, 2018 Carolyn Kousky Director of Policy Research and Engagement Climate change is here.  2017 set a record for disaster damages.  Such record-breaking is the new normal.  Hurricane Irma was the strongest storm observed in the Atlantic.  Harvey set a new rainfall record for North America.  Records were set…Read More

January 17, 2018 2017 proved to be one of the costliest disaster years on record.  Total damages in the US for the year are estimated to exceed $300 billion.  Insured losses for all natural disasters in 2017 will total around $135 billion. Do events like these cause (re)insurers to update…Read More

November 20, 2017 Carolyn Kousky Director of Policy Research and Engagement The National Flood Insurance Program (NFIP) is the predominant provider of flood insurance nationally.  Communities across the country can voluntarily join the program. In exchange for their residents being able to purchase federal flood policies, they must adopt minimum…Read More