07 Mar '18, 12pm

Who Owns the Physical Risks from Climate Change? (And What One Move Can Make It Less Risky?)

Who Owns the Physical Risks from Climate Change? (And What One Move Can Make It Less Risky?)

We hear a lot about how the anticipated rise in sea levels could trigger significant increases in hurricane-related financial losses. But who pays that cost? Who, for instance, is bearing the cumulate expense of the 16 U.S. weather events in 2017 estimated at over $306 billion, far exceeding the previous record of $214.8 billion in 2005? It’s not immediately clear. And the financial markets haven’t yet clarified who owns our risky future. So, let’s first consider who comprises the potential financial risk holders, assuming the physical risk is coastal flooding: Insurance/Reinsurance companies who transfer risk from property to market. Homeowners handling the aftermath, from soggy basements to ripped-off roofs. Developers, the decision-makers who place buildings in and out of harm’s way. Utilities, the critical service providers who rely upon conduits of every sort to trans...

Full article: https://www.triplepundit.com/2018/03/owns-physical-risks-...

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