Dr. David Marlett, managing director of Appalachian State University's Brantley Risk and Insurance Center, appeared on News Nation on January 10, 2025, to discuss the impact of natural disasters on the insurance industry.
Responding to an estimate that current wildfires in California will cost insurers $20 billion, Marlett said insurers would likely raise rates and reduce coverage, especially in high-risk areas, and discussed the complexity of insurance coverage.
He considered public-private partnerships, federal intervention, and knowledgeable agents who can help homeowners select the best coverage as potentially part of the solution. Marlett said some perils like floods and earthquakes are often not included in standard policies, and the frequency and severity of natural disasters are increasing.
Homeowners are encouraged to review their policies and work with knowledgeable agents to mitigate risks.
About the Brantley Risk & Insurance Center
The Brantley Risk & Insurance Center enhances the academic experience of business students at Appalachian State University by providing space and staff to assist with networking, job placement preparation and contact with faculty members outside the classroom. It provides students opportunities to participate in professional designation and licensing programs and invites industry leaders to participate in classes and speak to student organizations. It also fosters research and faculty development, assists the insurance industry in the design and delivery of continuing education programs, and helps educate the public about the insurance industry. Learn more at https://insurance.appstate.edu.
In the News: Brantley Center director discusses insurance challenges as wildfires burn
News Nation