Disaster resilience can’t fall on insurers alone, Marsh’s Kaniewski warns.
Disaster resilience should be a shared priority, but while insurers must take the lead, they cannot shoulder the financial burden alone, according to Daniel Kaniewski, managing director for the public sector at Marsh McLennan and former deputy administrator for resilience at FEMA.
As Floods Become Bigger and More Common, Risks from Insurance Gaps Also Grow
In this interview, Daniel Kaniewski warns that the vast majority of homeowners are dangerously underinsured against flooding, arguing that the solution requires a combination of reforming the National Flood Insurance Program and incentivizing local governments to adopt resilience strategies like community-based catastrophe insurance.