Copy
View this email in your browser | Forward to a colleague

'Super Rain': The New Climate Threat

Paul Carroll, Editor-in-Chief of ITL

The flash flooding in Texas over the weekend and into Monday crystallizes a concern that has increasingly troubled climate scientists, something that might be called "super rain."

The issue is partly the sheer amount of rain that can fall in a single storm because global warming lets summer air carry much more moisture. Even more, the issue is how fast that rain can fall. The flooding in Texas, for instance, occurred not just because more than 15 inches of rain fell in parts of Dallas in a 24-hour period on Sunday and Monday (more than two summers' worth of rain) but because three inches of that rain fell in a single hour on Sunday -- almost half a summer's worth of rain, just like that.

Hotter weather exacerbates the problem by baking the ground, creating conditions where more water runs off rather than being absorbed. Wildfires increasingly expose more ground to the effects of that hotter weather. And, as cities grow, they pave over more ground that could absorb rain, yet sewer systems haven't been upgraded.

Sounds like a job for insurance, right? By pricing the growing risk accurately, insurers can send important signals to policyholders, and risk managers can counsel cities, business and individuals about how to better protect their properties against "super rain."

continue reading >

New Podcast

Join Majesco’s Chief Strategy Officer Denise Garth and CyberCube’s Head of Client Management & Technology Services Ross Wirth for a discussion on rethinking data sources, helping insurers to innovate and provide value, and the challenge of having access to enough data for AI/ML algorithms.

Listen Now

SIX THINGS

What's Next for Social Inflation?
by Tim Fletcher and Andrew Pauley

At what point does social inflation severely constrict the availability of certain lines of coverage and thereby give rise to legal remedies, such as tort reform?

Read More

7 Things Sailing Taught Me on Leadership
by Michael de Waal

Navigating a business' ups and downs can be as challenging as steering a ship through a storm on the high seas. I’ve done both—and lived to tell how it can be done.

Read More

HOW MGAS AND E&S CARRIERS CAN THRIVE

Sponsored by IntellectAI

MGAs and E&S carriers are thriving, and they have lots of runway in front of them. They can continue to exploit their deep understanding of market niches, can drive efficiencies in the often-cumbersome underwriting process and can increasingly fit into insurers' processes by being at the forefront of APIs.

Read Now 

Enhancing the Security of Passcodes
by Shai Cohen

Adding a layer of phone number and device intelligence can slash the risk of fraud, giving the organization and customers greater security while maintaining a positive experience.

Read More

Data Mesh: What It Is and Why It Matters
by Mike Lamble

Demand for data in today’s insurance companies is outpacing supply, and, in most cases, the throttle is organizational rather than technical.

Read More

Filling Gaps in Weather Forecasting
by Rob Levine

Newly available data will be ingested into weather models to improve forecasting for carriers, reinsurance companies and even insurance linked securities.

Read More

How to Achieve Data Maturity
by Saptarshi Sengupta

Using a logical data fabric, insurance companies can apply a modern, agile approach that also allows them to streamline their data governance efforts.

Read More

HOW TO CRUISE THROUGH THE NEW FLORIDA PROPERTY INSURANCE LEGISLATION

Sponsored by Betterview

Coastal home and business owners need adequate protection now as much as ever, especially as climate change leads to more severe and frequent storms. Unfortunately, the nature of risk – especially catastrophic risk from hurricanes – has become harder to predict using traditional underwriting tools. Florida's new $150 million “My Safe Florida Home” legislation and the "predict and prevent" philosophy it embodies offer an opportunity to apply new tools and technology for a better result..

Read More

MORE FROM ITL

ITL FOCUS AUGUST: Workers Compensation

 

As tough as staffing is throughout the insurance industry, the world of workers' comp has things doubly bad -- it has to deal not only with its own staffing issues but those of its clients.

As Mark Walls, vice president of client engagement at Safety National, explains in this month's interview, many companies are having to ask employees to do more to cover for gaps in staffing. Companies are also being less rigorous about pre-employment physicals and may rush people into action. The risk of injury is rising as a result.

At the same time, workers' comp carriers and third-party administrators are having to deal with their own shortages of adjusters, nurse care managers and so on, while dealing with caregivers that are struggling to line up enough doctors and nurses.

The result? Not pretty.

Read More

Innovation Roadmap Webinar

As technology demonstrates its potential to transform the insurance industry, some insurers and startups are realizing it’s not a zero-sum game: they are stronger together than alone. Hear insurer and startup executives discuss this, and other perspectives gained from collaborating around insurance innovation and technology, in this Future of Risk webinar. Moderated by Paul Carroll, Editor in Chief of Insurance Thought Leadership, the panelists are Andy Cohen, President and COO of Snapsheet; Louis Gagnon, President and CEO of Foresters Financial Services Inc.; Peter Ohnemus, Founder and CEO of dacadoo; and Andrew Robinson, CEO of Skyward Specialty Insurance Group.

Register Today

Partner with ITL to create expert thought leadership content.

Custom Content
Promoted Content
Display Advertising
Custom Webinars
Monthly Topic Sponsorships
ITL Partner Packages and more


Learn more and get the 2022 Media Kit

GET INVOLVED

Write for Us

Our authors are what set Insurance Thought Leadership apart.
Get Started

SPREAD THE WORD

Share Share
Share Share
Tweet Tweet
Forward Forward
SUBSCRIBE TO SIX THINGS
Copyright © 2022 INSURANCE THOUGHT LEADERSHIP, All rights reserved.


Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

TI Privacy Statement