Amid news of large insurers leaving homeowners’ markets across the country, what must be done to address both the long-term climate crisis—and the immediate impact on consumers, businesses, and financial markets?

Milliman, Inc. (“Milliman”), the premier global consulting and actuarial firm, today announced that Millennial Specialty Insurance, LLC (“MSI”), an indirect subsidiary of BRP Group, Inc. (NASDAQ: BRP), has chosen Milliman Bungalow (“Bungalow”) as its insurtech platform for a complete flood insurance rating solution.

Rebuild by Design, an organization that helps communities build resilience, collaborated with Milliman to estimate how future coastal flooding in New York City could cause displacement of residents.

Recent floods in major cities around Southeast Asia and other parts of the world have reopened the conversation on flood coverage in insurance products and the means by which they will be financed.