Changes in the property insurance industry have yet to make an impact on the municipal bond market as far as credit views of major rating agencies or interest rates but there are plenty of signs that the market will adjust. We review a few areas of interest to consider.
“Just as the U.S. economy was overexposed to mortgage risk in 2008, the economy today is over exposed to climate risk,” Eric Andersen, president of Aon, PLC in U.S. House of Representatives testimony.