Insurance Experts See Need For Resiliency Amid Natural Disasters

The bad news is insurance premiums are likely to go up if, as predicted, the frequency and intensity of hurricanes and wildfires increases as a result of climate change. The good news is insurance companies are likely to weather those storms and steps can be taken to hold down costs and enable communities to survive as well. That is the insurance outlook as seen by two insurance industry experts. “The latest tragedy in California should teach us, this isn’t just about money. This isn’t just about insurance rates. It’s about people’s lives,” said Jim Jones, director of the Katie School of Insurance and Risk Management at Illinois State University.