Comments on: NOAA’s $1 Billion Disaster Database Retirement Raises Alarm for Insurers, Says AM Best

By: Sarah Lee

Sarah Lee — Thu, 05 Jun 2025 03:31:09 +0000

The retirement of the database raises valid concerns, but it’s essential to understand the reasons behind this decision. Perhaps it’s an opportunity to develop more comprehensive and up-to-date systems that can better serve both insurers and the public.

By: John Davis

John Davis — Thu, 05 Jun 2025 03:30:52 +0000

While the database was valuable, it’s time for a more modern approach. Relying on outdated data may not accurately reflect current risks. New methodologies could provide more relevant insights for today’s challenges.

By: Emily Thompson

Emily Thompson — Thu, 05 Jun 2025 03:30:38 +0000

The discontinuation of NOAA’s disaster database is deeply concerning. This data has been crucial for assessing risks and setting premiums. Without it, insurers may face increased uncertainty and potential financial instability.

By: Olivia Martinez

Olivia Martinez — Tue, 03 Jun 2025 02:01:46 +0000

I appreciate AM Best’s insight here. The insurance sector must collaborate closely with data providers to avoid gaps in coverage and ensure policies remain effective.

By: James Lee

James Lee — Tue, 03 Jun 2025 02:01:26 +0000

Parametric insurance products depend heavily on NOAA data. This change might push innovation but also adds complexity. It will be interesting to see how the market adapts.

By: Emily Carter

Emily Carter — Tue, 03 Jun 2025 02:01:07 +0000

With climate change accelerating, retiring this database seems like poor timing. Insurers need reliable data now more than ever to price risks fairly and protect consumers.

By: Michael Reed

Michael Reed — Tue, 03 Jun 2025 02:00:48 +0000

NOAA’s database has been invaluable for years. I worry that private companies might not provide the same level of transparency and trust that a government agency offers.

By: Sarah Thompson

Sarah Thompson — Tue, 03 Jun 2025 02:00:27 +0000

This is a concerning development for the insurance industry. Accurate and consistent data is crucial for proper risk assessment. Hopefully, new solutions can fill the gap quickly.