QBE North America Foundation and InnSure Partner with City of Salem to Enhance Flood Resilience

The QBE North America Foundation has recently announced an exciting initiative aimed at enhancing climate resilience in Salem, Massachusetts. This pilot program, in collaboration with the nonprofit InnSure and the City of Salem, focuses on reducing flood risks, thereby protecting homeowners and renters from the adverse effects of climate change.

Overview of the Flood Resilience Initiative

This collaborative effort seeks to address the increasing challenges posed by climate-driven flooding. As reported by InsurTech Insights, the initiative will introduce several key components:

• No-cost home flood resilience assessments: Scheduled to launch later this year, these assessments aim to evaluate the flood vulnerability of local properties.
• Enhanced flood mitigation efforts: The program will work to expand access to insurance, especially for underserved communities.
• Community resilience strengthening: The focus will be on developing actionable strategies to improve overall community preparedness against flooding.

Key Features of the Partnership

The partnership aims to leverage the expertise of the insurance industry to formulate effective strategies that include:

• Home resilience audits: Assessments that will provide homeowners with tailored recommendations to minimize flood risks.
• Community-based insurance solutions: Innovative insurance models that incentivize both households and municipalities to adopt climate adaptation measures.

Positive Impact on Communities

This initiative is not only about protecting individual properties but also aims to:

• Reduce financial burdens: By lowering retained loss costs, response and recovery expenses, and infrastructure spending.
• Extend the program’s reach: Future expansions may address additional climate-related hazards, such as wind damage, to further bolster community resilience.

Statements from Leaders

Charlie Sidoti, Executive Director of InnSure, emphasized the importance of integrating insurance solutions early in the planning process. He stated, “As climate change accelerates extreme weather patterns, it’s critical to reward community and government mitigation efforts.”

Similarly, Julie Wood, CEO of QBE North America, highlighted their commitment to fostering strong, resilient, and inclusive communities: “We recognize the important role insurance plays in supporting communities to build resilience and mitigate against climate risk.”

Launch Date and Future Prospects

The pilot program officially commenced on February 11, 2025. This initiative marks a significant step towards creating a scalable model for flood-prone areas, with the potential for broader applications in the future.

For more information about community resilience programs, you can visit the FEMA website or check out our internal resources on climate adaptation strategies.