QBE NA partners with InnSure to support pilot program to address flood risk

The QBE North America Foundation has partnered with nonprofit InnSure and the City of Salem, Massachusetts, to implement a pilot program aimed at increasing resilience to climate-driven flood risks.

The program will explore ways to reduce flood vulnerabilities for both individual homeowners and renters, as well as the broader community, particularly concerning flash flooding.

QBE’s insurance expertise will be key to developing and implementing practical work plans, the firm highlighted.

These plans include home resilience audits and a community-embedded insurance solution designed to recognise and reward climate adaptation efforts at both the household and community levels.

Charlie Sidoti, Executive Director, InnSure, said: “As climate change accelerates extreme weather patterns and the natural catastrophe insurance protection gap in the United States grows, it’s critical to reward community and government mitigation efforts and integrate insurance solutions early in the planning process.

“This collaboration with the City of Salem is a promising opportunity to test new insurance models at the community level, and we’re excited to partner with the QBE Foundation and local leaders on this initiative.”

Salem was chosen as the pilot site due to its significant flood risk, with threats from coastal, riverine and flash flooding.

As part of the initiative, Salem will launch a non-cost home flood resilience assessment program later this year. The goal is to improve flood mitigation, boost community resilience, and broaden insurance access, particularly for underserved families and neighbourhoods.

By reducing losses, response and recovery costs, and infrastructure spending, the program also seeks to lessen the financial burden of climate disasters on governments and taxpayers.

According to the announcement, future expansion to address other hazards, like wind damage, is also being considered.

“At QBE, we are committed to helping create strong, resilient and inclusive communities,” said Julie Wood, CEO, QBE North America. “We recognise the important role insurance plays in supporting communities to build resilience and mitigate against climate risk.”

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