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Can catastrophe insurance fill a critical gap in employee benefits?
- The U.S. has experienced over 400 weather and climate disasters in the last 45 years, resulting in significant economic losses.
- As natural disasters increase due to climate change, some employers are considering offering catastrophe insurance as an employee benefit.
- Only 17% of global CEOs have strategies to protect employees from climate change effects, highlighting the need for such benefits.
- There is a growing trend of employers offering catastrophe insurance to prepare workforces for climate change impacts.
- Insurance market silos have hindered the adoption of catastrophe insurance as an employee benefit, but this trend is changing.
- Catastrophe insurance can provide immediate financial support to employees affected by disasters, aiding in their recovery and mental health.
- Employers can position themselves as progressive by offering catastrophe insurance, meeting the needs of employees worried about climate change impacts.
- HR leaders can benefit from adding catastrophe insurance as an employee benefit by improving overall business metrics and supporting employee well-being.
- Offering catastrophe insurance can strengthen the workforce's resilience to climate change and extreme weather events.
- Employers can play a crucial role in providing this essential benefit to their employees as climate change continues to impact the world.
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