United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2007-04-19 monographic deposited born digital 22 p. GA 1.13:GAO-07-760T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-760T P0b002ee1803a1b1f f:d07760t DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-07-760T machine generated eng fdlp REPORT GAOREPORTS-GAO-07-760T GAO-07-760T Climatic change Droughts Federal property Flood insurance Hurricanes Insurance claims Insurance losses Interagency relations Losses Program evaluation Risk management Strategic planning Weather Weather modification Climate Change Science Program Federal Crop Insurance Program National Flood Insurance Program Testimony A68465 Weather-related events in the United States have caused tens of billions of dollars in damages annually over the past decade. A major portion of these losses is borne by private insurers and by two federal insurance programs-- the Federal Emergency Management Agency's National Flood Insurance Program (NFIP), which insures properties against flooding, and the Department of Agriculture's Federal Crop Insurance Corporation (FCIC), which insures crops against drought or other weather disasters. In this testimony, GAO (1) describes how climate change may affect future weather-related losses, (2) provides information on past insured weather-related losses, and (3) determines what major private insurers and federal insurers are doing to prepare for potential increases in such losses. This testimony is based on a report entitled Climate Change: Financial Risks to Federal and Private Insurers in Coming Decades are Potentially Significant (GAO-07-285) being released today. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-760T/html/GAOREPORTS-GAO-07-760T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-760T/pdf/GAOREPORTS-GAO-07-760T.pdf GAO-07-760T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-760T Testimony GAO-07-760T; Climate Change: Financial Risks to Federal and Private Insurers in Coming Decades are Potentially Significant; Climatic change Droughts Federal property Flood insurance Hurricanes Insurance claims Insurance losses Interagency relations Losses Program evaluation Risk management Strategic planning Weather Weather modification Climate Change Science Program Federal Crop Insurance Program National Flood Insurance Program