CoreLogic provided guidance on how the frequency and severity of natural hazards are affecting the U.S. insurance and mortgage markets
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, recently shared its perspective on important issues insurers need to address to protect American homeownership, particularly with the frequency and severity of natural disasters currently outpacing insurance coverage. CoreLogic was recommended by the U.S. Treasury to participate in the International Monetary Fund’s (IMF) 2020 Financial Sector Assessment Program (FSAP), a formal review of the U.S. financial sector to assess its stability and soundness.
“We are honored the IMF chose to speak with CoreLogic to hear our unique outlook on how insurance requirements are shifting and ultimately, having an impact to the entire property ecosystem,” said Howard Botts, CoreLogic Chief Scientist. “Rooted by the largest, most comprehensive repository of property and related financial data, CoreLogic curates granular property data that inspires insightful intelligence, powering professionals at critical touchpoints throughout the housing ecosystem. Our solutions enable the entire journey of homeownership, helping millions of people find, buy, and protect the homes they love.”
CoreLogic provided guidance to the IMF as a part of the fund’s extensive research and analysis of leading resources in catastrophe and insurance. These natural hazard events, specifically wildfire and coastal flooding, undermine the safety and soundness of the U.S. insurance and mortgage markets, threatening the economy at large. Especially as Hurricane Laura – one of the strongest hurricanes in Louisiana history – recently battered the southern coastline, and wildfires threatening thousands of homes in the western United States. It’s more important than ever to capture the evolving nature of these risks using scientifically-based catastrophe modelling in order to protect the long-term health of these markets. Additionally, homebuying policies need to change in tandem with climate change to protect American homeownership and brace the economy to withstand multiple catastrophes at once.
About CoreLogic
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.
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