RCM President Talks About Climate Risks, Costs
By KIMBERLEY HAAS
The president of Rutledge Claims Management says the hazard insurance industry faces critical challenges in properly assessing and pricing climate risks, which directly impacts the vulnerability of mortgages.
Aubrey Gilmore has over 15 years of experience in hazard claims, mortgage servicing, and insurance claims. She was recently promoted from chief operations officer to president at RCM, which is headquartered in San Diego, California, and handles hazard insurance claims management for mortgage servicers and investors.
Gilmore said mortgage defaults become more prevalent when properties are not adequately insured against climate-related hazards such as wildfires, floods, and hurricanes. This poses a substantial risk to lenders, especially government-backed ones.
“The potential surge in foreclosures and financial losses underscores the urgent…