Rethinking Flood Insurance In The Age Of Climate Change
Law360 (March 19, 2020, 6:07 PM EDT) -- Climate change is impacting the global economy and the commercial real estate finance market in many ways.
This article analyzes a key tool that lenders, developers, real estate investors and commercial mortgage-backed security bond buyers all rely on to protect commercial real estate against loss due to flooding — flood insurance.
During the past two years, 30 extreme weather events occurred in the U.S. In 2018, this country suffered $91 billion in damages from 14 different climate disasters, each with losses exceeding $1 billion, mostly to residential and commercial real estate.
It’s no surprise, then, that the six most expensive years...
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