Counting the Cost of Climate Change: Measuring the Value of Climate Change Adaptation in Public Sector Insurance Costs
Scott McNea, Vice President, Alliant Insurance Services, Inc.
May 21, 2025 | 12:00 p.m. – 1:00 p.m. ET
Climate change is significantly impacting the insurance industry, leading to higher claims and increased premiums due to the rise in extreme weather events like hurricanes, wildfires and floods. In high-risk areas, insurers are sometimes restricting coverage or withdrawing altogether as they struggle to manage mounting losses. The industry now relies heavily on advanced data and technology to assess and model climate-related risks, helping insurers set premiums and manage claims more accurately. In response to escalating climate risks, some insurers are creating climate-focused products, like parametric insurance, and investing in resilience and sustainable initiatives to mitigate future losses. There’s also increased regulatory pressure for insurers to disclose climate-related risks, encouraging transparency and adaptation. Overall, climate change is pushing the insurance industry to innovate, adapt policies and focus on long-term resilience.
Attendee Takeaways:
1. Understand and anticipate climate-related risks
2. Learn about leveraging data, predictive analytics and modeling
3. Learn the ability to use actuarial results to determine appropriate funding levels and claims trends
4. Gain knowledge of current industry trends in various lines of business
Presenter
Scott McNea, Vice President, Alliant Insurance Services, Inc.
Scott is a seasoned insurance broker with over 17 years of experience in commercial insurance. He manages a multi-million-dollar portfolio for public entities, specializing in public utilities and power generation sectors. Scott's expertise spans various industries, including higher education, healthcare, real estate, transportation, utilities, water infrastructure and manufacturing. Known for his strategic risk management skills, he has a proven track record in client relations, public presentations and ethical leadership. Scott holds a BS in electrical engineering from the University of Texas at San Antonio and is a licensed property & casualty professional across all 50 states.
