Several drivers are contributing to the rise in expensive severe convective storms: 1) population growth in high-risk areas; 2) non-resilient physical assets; and 3) rising building premiums.
Population growth in areas prone to severe storms has increased asset exposure and the physical assets in harm's way are not designed to withstand high winds or hail. Meanwhile, building premiums to rebuild after severe storms are increasing.
In this edition of The Weekly, we share a condensed version of a new article by Abby Ross, CEO of The Resiliency Company, on the four convictions underpinning the opportunities in the Adaptation Economy.
The federal government's retreat from climate adaptation has created a gap in data, funding, and coordination, but a new decentralized ecosystem of nonprofits, state governments, and coalitions is stepping up to fill the void and may prove more resilient to political disruption in the long run.
An adaptation-minded property insurance system means safer, healthier, more resilient communities and economies that can both prepare for and recover from climate disasters in an affordable, sustainable, equitable way.
