Industry’s new risk models draw sharp criticism

Insurers say models based on five years? data better reflect current storm patterns. Above, a grassy field is flooded along Hundred Acre Cove in Barrington. /
Insurers say models based on five years? data better reflect current storm patterns. Above, a grassy field is flooded along Hundred Acre Cove in Barrington. /
Rhode Island lawmakers are scrambling to address skyrocketing home insurance rates and the increasing number of homeowners who are losing their insurance entirely, as insurers adopt new risk models that predict drastically increased risks associated with climate change. Having been rocked by unprecedented insurance costs in the Gulf Coast after Hurricane Katrina, many insurance companies…

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