Navigating the Intersection of Climate Resilience and Legal System Abuse in Miami

Climate Resilience: A Collaborative Effort

The Joint Industry Forum in Miami highlighted the importance of collaboration in addressing climate resilience. Veronika Torarp from PwC Strategy discussed a multi-industry coalition aimed at enhancing climate resilience. Dan Kaniewski from Marsh McLennan shared details about a project funded by Fannie Mae and managed by the National Institute of Building Sciences (NIBS), which developed a roadmap to incentivize investment in urban flood resilience. Triple-I played a crucial role in this project, which is now seeking communities and partners for implementation.

Legal System Abuse: A Growing Concern

The forum also addressed the issue of legal system abuse, which drives up costs for everyone. Recent reforms in Florida have made the state more attractive to insurers by discouraging excessive and fraudulent litigation. However, legal system abuse is expanding as quickly as states are able to advance in tamping it down. Panelists discussed the need for continued efforts to combat this issue.

Innovation in Insurance: The Role of Technology

The Innovation panel discussed how generative AI and other technologies are transforming insurance strategy and operations. Denise Garth from Majesco, Paul O’Connor from ServiceMaster, Kenneth Tolson from Crawford & Co., and Reggie Townsend from SAS shared insights on how these technologies are increasing opportunities to improve and advance the insurance industry. The panel emphasized the importance of staying ahead of technological advancements to remain competitive.

In conclusion, the forum underscored the need for collaboration, innovation, and continued efforts to address legal system abuse and climate resilience. Readers are advised to stay informed about these issues and consider how they can contribute to solutions.