Top 10 US Climate Risk Insurance Solutions

Florida Citizens, the state‑backed insurer of last resort, covers 1.2 million policies as of 2024, making it the largest property insurer in Florida. Created in 2002 after private carriers fled the market, its depopulation program returned 50,000 policies to private carriers in 2023, reducing its direct exposure.

The California FAIR Plan is the state's insurer of last resort for high-risk wildfire zones, covering over 300,000 policies as private insurers withdraw from California. Exposure grew by 60% between 2020 and 2024 as major carriers paused or exited the state market. It provides basic fire and smoke coverage where no other option exists.

Aon's climate risk advisory practice develops parametric weather insurance products deployed in 60+ countries. With $13.4 billion in total revenue in 2023, Aon is one of the largest insurance brokers globally. Its catastrophe modeling tools are used by governments and corporations to quantify and transfer climate-linked financial exposure.

WTW generated $9.5 billion in revenue in 2023 and operates a dedicated catastrophe modeling and climate practice, the Climate and Resilience Hub, used by major carriers and governments. The firm advises on TCFD climate disclosure and climate-linked bond issuances.

Allianz offers parametric weather coverage for agricultural and infrastructure risks and has committed billions to green investments. One of Europe's largest insurers, it operates in around 70 countries, with large industrial climate exposures underwritten through its commercial arm, formerly AGCS and now Allianz Commercial.

Nephila Capital is the world's largest insurance-linked securities (ILS) fund manager with over $10 billion in assets under management. Acquired by Markel Corporation in 2018, Nephila connects capital markets investors to catastrophe risk via cat bonds and collateralized reinsurance. It has issued ILS instruments covering hurricane, earthquake, and wildfire perils.

Skyline Risk Solutions offers AI-powered climate risk scoring tools designed for insurance underwriters assessing residential and commercial properties. Founded in 2019, its platform integrates satellite imagery, LIDAR data, and climate projections to generate granular risk scores. Clients include several top-20 US property insurers using Skyline models for pricing and portfolio management.