#United States #Salem #QBE North America #InnSure #flood risk

Addressing Flood Risks with Innovative Partnerships

The increasing severity of climate change poses significant challenges, particularly in areas prone to flooding. In response, the QBE North America Foundation has initiated a groundbreaking pilot program in Salem, Massachusetts. This venture, a collaboration with the nonprofit organization InnSure and the City of Salem, aims to enhance resilience against climate-induced flood risks while safeguarding the community's well-being.

The Initiative

Launched on February 11, 2025, this public-private partnership is designed to evaluate and implement various strategies that can significantly reduce flood vulnerabilities for homeowners and renters. The program's core objective is to create actionable solutions that not only address individual properties but also consider community-level adaptations to mitigate the impacts of flash flooding.

Charlie Sidoti, Executive Director of InnSure, emphasized the importance of integrating insurance strategies early in planning processes. He stated, "As extreme weather becomes more prevalent, it is crucial to reward mitigation efforts at both government and community levels. This collaboration in Salem serves as a promising opportunity to explore new insurance models that benefit all stakeholders."

Why Salem?

Salem was strategically chosen for this pilot due to its high susceptibility to flooding from multiple sources including coastal, riverine, and flash floods. Mayor Dominick Pangallo expressed gratitude for the partnership, highlighting the city's commitment to innovative solutions aimed at reducing climate-related risks for its residents.

Community-Based Assessments

A vital component of this initiative is the development of a no-cost home flood resilience assessment program. This scheme will be implemented later this year and is expected to play a key role in enhancing flood mitigation efforts within the community. By increasing awareness and providing resources to households, the program aims to improve overall community resilience, particularly benefiting families and neighborhoods that are often underserved.

As reported by QBE North America's CEO, Julie Wood, the foundation is dedicated to fostering strong and inclusive communities. "Insurance has a pivotal role in empowering communities to build resilience against climate risks. We believe this program will pave the way for more sustainable futures," she mentioned.

Financial and Resource Implications

Besides bolstering community resilience, the pilot program aims to minimize costs associated with disaster response and infrastructure repair. By reducing retained loss and recovery expenses, local governments and taxpayers may experience decreased financial burdens following climate-related events. Future expansions of this initiative may include addressing other environmental hazards, such as wind damage, thereby creating a comprehensive safety net for the community.

This pioneering collaboration not only highlights the innovative application of insurance practices in future climate adaptation but also sets a precedent for partnering with local governments to address pressing environmental challenges.

By harnessing the expertise of insurance professionals alongside local insights, the program promises ecosystem-wide benefits while fostering a culture of proactive risk management. Through this approach, QBE, InnSure, and the City of Salem are setting a benchmark for integrating sustainability into community frameworks, paving the way for other municipalities to consider similar innovations in their own contexts.

For more information about QBE North America and its mission, visit qbe.com/us. Read more about InnSure and their climate initiatives at innsure.org.