Catastrophic change is pushing real estate to redefine protection

Weather and climate are important risk factors that we monitor closely here at CoreLogic since these phenomena affect not only homeowners but also insurers and the property market at large. However, climate change is altering familiar seasonal climatic patterns, leading to more frequent and severe weather events that are sweeping across the nation and leaving billions of dollars in damages in their wake.Host Maiclaire Bolton Smith sits down with Tom Larsen, an expert in catastrophe risk management and insurance solutions at CoreLogic, to answer some questions such as what led to the $56.92 billion in property damage in 2021? What is the difference between property damage and reconstruction cost value? How do natural disasters affect mortgage delinquency rates?To take a deeper look at CoreLogic coverage of 2021 natural disasters, visit the company’s natural hazard risk information center, Hazard HQ™, at www.hazardhq.com or download the 2021 Climate Change Catastrophe Report at corelogic.com/catastrophereport.