Mercury Insurance Expands Climate Science Team to Enhance Catastrophe Risk Strategy

Mercury Insurance has appointed Steve Bennett as Senior Director of Climate and Catastrophe Science, marking a strategic investment to enhance its capabilities in managing climate-driven risks in the property and casualty insurance sector. Bennett leads a newly formed climate science team aimed at advancing Mercury's risk assessment and mitigation strategies amid increasing severe weather events. This initiative reflects Mercury's distinctive approach within the industry, which contrasts with many competitors that are withdrawing from high-risk markets vulnerable to wildfires and other catastrophes.

Mercury's scientific focus enables it to re-enter and expand coverage in these markets, including Paradise, California, where the company became the first major insurer to resume writing homeowners policies following the 2018 Camp Fire devastation. By leveraging granular geographic data, construction methods, and policy concentration analytics, Mercury develops more nuanced underwriting models that allow tailored risk management rather than broad exclusions of high-risk areas. The company's collaborative efforts with homeowners, municipalities, and government bodies to promote resilience and mitigation measures also illustrate a forward-looking insurance model centered on sustained coverage availability and community risk reduction. Bennett's expertise, rooted in climate science and severe weather risk management, strengthens Mercury’s catastrophe modeling and pricing accuracy, enabling competitive positioning in challenging insurance markets. The company's expanded presence in California high-risk zones demonstrates this science-driven approach alongside local cooperation with entities such as the Insurance Institute for Business and Home Safety (IBHS).

The strategy underscores the need for multi-stakeholder collaboration—including urban planners and insurers—to achieve effective risk mitigation and maintain insurability in regions confronting escalating catastrophic threats. Mercury Insurance offers multiple personal and commercial lines with operations in 11 states, maintaining an 'A' rating from A.M. Best and recognitions for service excellence. This development situates Mercury as a notable case in adapting insurance practices to evolving climate-related risk landscapes through data-driven and integrative strategies.