In the U.S., between 2020 and 2024, the total cost of major weather related disasters averaged about $150 billion per year. That’s more than five times the annual average during the 1980s, even after adjusting for inflation. At the same time as they’ve gotten more costly, major disasters have become more frequent. Inevitably, increasing losses have begun to strain property insurers. In some areas, like parts of California, premiums have gone up drastically. In some markets, insurance is now o...
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In the U.S., between 2020 and 2024, the total cost of major weather related disasters averaged about $150 billion per year. That’s more than five times the annual average during the 1980s, even after adjusting for inflation. At the same time as they’ve gotten more costly, major disasters have become more frequent. Inevitably, increasing losses have begun to strain property insurers. In some areas, like parts of California, premiums have gone up drastically. In some markets, insurance is now o...
Ep. 14: The effects of climate risk on insurance, property values, and real estate markets, with Ben Keys, a professor of real estate and finance at Wharton
Financial Climate
46 minutes
2 years ago
Ep. 14: The effects of climate risk on insurance, property values, and real estate markets, with Ben Keys, a professor of real estate and finance at Wharton
Ben Keys, a professor of real estate and finance at the Wharton School of Business talks about the effects of climate risk on insurance, property values, and real estate markets. Relevant Links: Ben Keys New York Times guest opinion on climate risk and homeowners' insuranceBen Keys Congressional testimonyhttps://firststreet.org/https://www.nber.org/papers/w27930 (Ben Keys and Philip Mulder economic research paper on the housing markets, mortgage lending, and sea level rise)
Financial Climate
In the U.S., between 2020 and 2024, the total cost of major weather related disasters averaged about $150 billion per year. That’s more than five times the annual average during the 1980s, even after adjusting for inflation. At the same time as they’ve gotten more costly, major disasters have become more frequent. Inevitably, increasing losses have begun to strain property insurers. In some areas, like parts of California, premiums have gone up drastically. In some markets, insurance is now o...
