Weather Risk

Floods and powerful storms pounding the U.K. the past few months could cost the insurance industry at least 500 million pounds, and that figure may double if the weather conditions persist.

Three staff members from the Insurance Institute for Business & Home Safety (IBHS) will present technical papers concerning weather-related losses this week.

Three staff members from the Insurance Institute for Business & Home Safety (IBHS) will present technical papers concerning weather-related losses this week.

The cost of insuring a solar plant has dropped by 50% since 2010 because of cheaper photovoltaic panels that lead to lower project costs and reduced premiums.

The cost of insuring a solar plant has dropped by 50% since 2010 because of cheaper photovoltaic panels that lead to lower project costs and reduced premiums.

As temperatures plummet across the country this week, it's important to remember that extreme weather and climate events are a natural part of the Earth's climate system. Nonetheless, as the NOAA notes, extreme weather and climate events can have significant impacts on our lives and on the environment.

Fracking is not something to be exploited and profiteered overnight, but rather the next phase of American energy growth. And gaining a clear picture of the risks involved will go a long way in informing insurers' grasp of this often-misunderstood practice.

While property and casualty insurers face market conditions and additional obstacles that may be outside of their control, that doesnt mean they dont have the ability to shape their own destinies.