The need for climate adaptation is clear and reinforces our national need to invest in the resilience of the homes and commercial structures where people live and work. Such investments are smart fiscal choices, returning an average of $6 for every $1 provided by a federal grant—a 500% return on investment! Given its important societal and economic benefits, adaptation is both a sound fiscal strategy and a good public policy.
The Insurance Institute for Business & Home Safety (IBHS) and our property and casualty insurance industry partners recognize the interconnectedness of the natural and built environment. We also recognize the vital role that residential, business, and community resilience must play for our nation to effectively adapt to changing climate conditions.
This effort requires collaboration with policymakers, the insurance industry, and other private sector stakeholders.