Understanding Natural Disasters and the Insurance Industry

risk industry cyber insurance

Natural disasters are an inherent part of the insurance industry. They are a problem that the industry has been fighting for as long as it has existed, and the battle is fraught with conflicts that insurers often lose. There is no such thing as absolute protection from natural disasters. Floods will cause damage despite the best efforts made to keep waters at bay, earthquakes will shake buildings to rubble, and tornadoes will blow houses apart. The best that the insurance industry can do is offer aid for the recover from…

Read More

Climate Change and the Insurance Industry

climate change insurance industry

Climate change is a controversial issue, but mostly because of political and philosophical beliefs. The insurance industry has been well aware of the potential impact a changing climate can have on the global environment and has been encouraging efforts to mitigate this impact. Climate change has the potential to bankrupt the insurance industry, as the phenomenon would be responsible for the increasing frequency in major natural disasters that disrupt the global economy and put a strain on the world’s resources. The insurance industry has been working to steel itself against…

Read More

Flood Insurance and Catastrophe

flood insurance bill

Flood insurance is not something that many homeowners have, but they don’t necessarily know that they don’t have it. This is because flood protection is not a part of a conventional homeowners insurance policy. Most homeowners have to have insurance protection due to the provisions of their mortgage, but few people take the time to understand their policy and what protections it offers. As such, many people are often left at the mercy of natural disasters. In the United States, flood insurance is within the jurisdiction of the federal government.…

Read More

Examining the Negative Stigma Surrounding Insurance

california wildfire victims angry frustrated

Insurance is often considered a necessary evil by many people, but why? The issue is somewhat complex and sometimes difficult to understand for certain due to the myriad opinions that are involved. For many, insurance is shrouded in a negative stigma because of certain philosophical perspectives. For others, the insurance industry makes questionable business decisions that add fuel to ever-present controversy. One thing to understand is that insurance is a for-profit industry. Companies are formed, thrive, and fail based on their ability to do business effectively within a particular market.…

Read More

Is Health Insurance Worth It?

health insurance cost medical

Health insurance can be a tricky subject. Many people consider insurance coverage to be vital, holding a place of importance in their lives that few other things approach. Others tolerate insurance coverage, thinking of its as a necessary expense that they are neither fond of nor hate. Still others believe that insurance is a waste of money that could be better spent on other things. Like all forms of insurance, the value of health coverage is a matter of perspective. In the U.S., health insurance coverage is mandatory, but that…

Read More