Insurance Companies in Canada are very worried. The drastic changes in climate is letting them review their coverage policies as risks from floods and other natural disaster continue to increase. Climate change has tremendous and widespread effects that costs millions of dollars worth of damages. It has been one of the greatest threats facing the insurance industry today and because of this, insurers have been doing their best to outline the challenges they face and formulate strategies to deal with them.

The United States Senate is actually planning on changing and reforming their National Flood Insurance program for it to suit the needs of the people better. The said flood insurance program is already 40 years old and so the United States constituents and policy holders fear that there are some catastrophes that should be counted under flood damage but aren't due to the old policy.

In general, it is true that laws should be periodically reviewed to see if the policies can still cater the people. If the policies and laws don't anymore have teeth, people will then be disgruntled and dissatisfied about it.

The world is not getting any younger. Experts say that our home existed about 4.55 billion years ago and considering how many things can happen within a century, that's pretty long a timeline.

The earth moves, and that is the main cause of earthquakes. Earthquakes are generally triggered by the movement of tectonic plates'so much for science. This phenomenon is natural occurring; hence, this can't be prevented nor controlled. However, the damage that'll soon take place can be prevented. That's the reason why the former Californian Insurance Commissioner Charles Quackenbush decided to fund earthquake studies worth $6.5 million dollars.

Marsh & McLennan, an insurance company from New York, reported a loss of $210 million in the first quarter of their operations, as the insurance security industry experienced a deep plummet in value.

The said company lost about 40 cents per share in their January to March period. It is vital to recall that a year earlier, the company earned $268 million, or equivalent to 49 cents per share.

The company credited the said financial loss mostly to the $425 million ?asset damage? indicted by Kroll, the security firm of Marsh. Since then, Marsh has been probing on how to create best value from its business.

Attorney Robert Cintron has filed five federal complaints against the different flood insurance companies. One latest settlement allowed the Commissioner of Key West City Mr. Clayton Lopez to start moving back into his residence after living for more than two years in a provisional trailer van.

The hurricane Wilma way back in 2005 made many Key West homes either in need of total overhaul or crumbled down, including the 6 people represented by Cintron himself. His clients said that they have not gotten sufficient insurance reparation from the company.

Lopez said the insurance companies with which he was a policy holder, assessed his home, fought over which natural calamity caused the damage (whether it wind or flood and who was supposed to be held accountable in the repairs).