In this video interview with AM Best TV at InsurTech Hartford Symposium 2024, Kieran Bhatia, Senior Vice President, discusses how climate change has different impacts based on region and peril, as well as ways governments and insurers are joining forces to address coverage gaps.
Kieran mentions a pilot program to target flood losses in prone areas of New York City, as well as an initiative in Alabama that encourages residents to make their properties more wind resilient.
“There’s this growing protection gap when we see climate change risk, and just severe weather risk in general. Governments and insurance companies are working together to try and fix that issue.”