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Mississippi River towns pilot new insurance model to help with disaster response

  • The Mississippi River Cities and Towns Initiative announced a pilot insurance model aimed at aiding recovery for river towns affected by floods.
  • The pilot program, developed with Munich Re, aims to show how quick insurance payouts can improve disaster response after a flood.
  • McLeod noted that parametric insurance could help but is "no silver bullet" for disaster challenges.
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Arkansas TimesArkansas Times
+4 Reposted by 4 other sources

Mississippi River towns pilot new insurance model to help with disaster response

A novel type of insurance pool — called parametric insurance — is designed to rapidly fund emergency response after natural disasters such as flooding. Towns along the Mississippi River are experimenting with the concept.

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Tennessee LookoutTennessee Lookout

Mississippi River towns pilot new insurance model to help with disaster response  • Tennessee Lookout

Workers shore up a temporary levee across Main Street in Grafton, IL on May 29, 2019. The Mississippi River reached its second highest crest ever at 35.17 ft 9 days later. (Photo: Brent Jones, St. Louis Public Radio)ST. LOUIS, Mo. – Early on Election Day, highways in the St. Louis area were inundated with water. Over several days, intense storms battered Missouri, bringing six to 10 inches of rain—record-breaking amounts for November. The flash …

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The LensThe Lens

As Mississippi River towns experience whiplash between drought and flood, mayors look to new insurance model

At least two New Orleans agencies tested parametric insurance policies during Hurricane Francine – with mixed results. The post As Mississippi River towns experience whiplash between drought and flood, mayors look to new insurance model   appeared first on The Lens.

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The Lens broke the news in on Monday, November 18, 2024.
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