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Property

Gulf of Mexico
Property

FL - Some Florida houses are being built to survive hurricanes, cut emissions

With climate change spawning intense hurricanes and billion-dollar disasters, some developers are making homes that can withstand the weather and be better for the environment.

International
Property

UK - Britain's oldest beach cafe is reduced to rubble

National Trust is accused of 'senseless vandalism' after ordering demolition of tourist spot over fears it would fall into the sea due to erosion

International
Property

CANADA - Environment minister says wetland policy 'clarification' is about building more housing

Nova Scotia Environment and Climate Change Minister Tim Halman says a recent "clarification" to staff about his department's wetlands policy is based on the need for more housing in the province.

Coastwide
Property

USA - Wyden, Whitehouse Launch Investigation into Climate Change-Fueled Insurance Crisis

Washington, D.C.— U.S. Sen. Ron Wyden (D-OR) said today that he and U.S. Sen. Sheldon Whitehouse (D-RI) have launched an investigation into how insurance companies are navigating mounting risks from climate change, including where companies will next pull coverage or raise premiums.

Gulf of Mexico
Property

FL - Hurricane-ravaged Florida beach town attracts risk-taking wealthy homebuyers

A year after Hurricane Ian ripped through southwest Florida, wealthy risk-takers are transforming one beach town.

Coastwide
Property

USA - Insurers face wave of inquiries over climate risks

The nation’s property insurance industry is coming under unprecedented scrutiny with the launch of three inquiries into how climate change is causing premiums to soar and pushing insurers to withdraw from at-risk regions.

Coastwide
Property

USA - Why Retirees Flock to Places Where Climate Risk Is High

Even insurance companies are cutting and running — should you, too?

International
Property

IRL - Coastal erosion policies could put 10,000 Irish homes at risk, but are activists hampering solutions?

Last week, the government published the National Coastal Change Management Strategy to deal with loss of land due to coastal erosion, flooding and sea level rise.

Southeast
Property

FL - Orange Insurance announces formation and launch in Florida’s property insurance market

Orange Insurance Exchange, a reciprocal insurer, has announced its formation and launch in the Florida property insurance market.

Mid-Atlantic
Property

NC - Why did the National Park Service buy threatened oceanfront homes on the Outer Banks?

Conservation grant funds were used buy the two homes to prevent another collapse and huge debris field along the national seashore. Could it be a model for other parts of the N.C. coast?

International
Property

Mexico - Two hours of terror and now years of devastation for Acapulco's poor in Hurricane Otis aftermath

Hurricane Otis shredded Acapulco, Mexico, last week and tore apart the lives of hundreds of thousands of people

Southeast
Property

FL - Olympus updates Florida coastal underwriting rules to align with reinsurance

Olympus Insurance Company, a Florida homeowners specialist underwriter, has adopted new rules for property underwritten on the coast of the state, as it looks to align its inwards business more closely with the reinsurance models used.

West Coast
Property

CA - A New Way to Map Flood Risks in Los Angeles

Last winter’s big storms caused enough wind and water damage that they won’t soon be forgotten, and neighbors are still talking to various city officials about possible ways to prevent or at least reduce potential hazards for this year’s storm season.

International
Property

World - Preparing the insurance industry for climate change, Susan Crawford's warning

Until recently, Harvard professor Susan Crawford was concerned about the effect of telecom monopolies on our internet lives (see her books) but recently she has pivoted to climate change.

Coastwide
Property

USA - Dramatic plan to expand flood areas could force millions to buy insurance

Millions more people in the U.S. may be required to buy flood insurance based on the recommendation of an expert panel at a time when climate-driven floods are becoming increasingly common

International
Property

Mexico - Insured losses from Hurricane Otis could reach up to $15 billion

Data and analytics company CoreLogic Inc. said the insured losses from Hurricane Otis, which struck Mexico’s resort town of Acapulco as a Category 5 storm on Oct. 25, is expected to reach between $10 billion and $15 billion, Reinsurance News reported.

International
Property

UK - Last home standing on crumbling Norfolk seaside cliff face is bulldozed

Council tear down woman's bungalow perched on sand dune due to coastal erosion - becoming SIXTH house to be demolished this year

Northeast
Property

MD - Insurance costs jump 40-150 percent for some OC condos, property managers say

As coastal condominium and cooperative housing associations in Ocean City renew the insurance on their buildings this year, some are seeing the price of plans more than double.

International
Property

Mexico - Hurricane Otis: Mexico`s most powerful storm ever makes landfall near Acapulco resort

Hurricane Otis made landfall near the resort city of Acapulco on the southern Pacific Coast of Mexico on Wednesday.

Southeast
Property

FL - New study shows some parts of Brevard County underwater in 80 years, infrastructure at risk

CAPE CANAVERAL, Fla. — From North Merritt Island all the way down to Sebastian, the barrier islands of Brevard are very vulnerable to sea level rise. And some studies show that parts of it will be underwater in the next 80 years.

Coastwide
Property

USA - No Calm Before the Storm: U.S. Coastal Communities At Risk Of Becoming Uninsurable As Storm Activity Scares Insurers

DBRS Morningstar published a commentary examining the effect of large weather systems on U.S. coastal regions and the risk of certain properties becoming uninsurable. Some of the key highlights of the commentary include:

Gulf of Mexico
Property

FL - County's Data on Wetland Parcels Not So Clear Cut

The 66,000 parcels cited by the county as impacted by local wetland buffer requirements include developed subdivision parcels, mobile home and RV parks, FPL-owned land, mining industry parcels, and even publicly owned lands.

Gulf of Mexico
Property

LA - Home Elevations Set for Louisiana Parishes for Next Year

The 27 homes are included in a pilot program run by the Army Corps of Engineers and the state Coastal Protection and Restoration Authority. They are among 3,462 homes targeted by the larger elevation plans.