Ryan Nauman hosts Zephyr’s Adjusted for Risk Podcast with guests Pete Walther (President & CEO, Marsh McLennan Agency Private Client Services) and Hunter Maats (Managing Partner, Resilience Investments) ahead of SuperReturn North America (March 16–18, Miami). They discuss how climate impacts are driving insurability and affordability challenges that now shape real estate underwriting and investment outcomes, with “insurability equals investability” as a key theme. The conversation covers portfolio-level approaches used by sophisticated clients, including fortification/retrofit strategies, parametric and captive solutions, community-scale resilience efforts, and the need for transparency and coalition-based action among stakeholders. They also address climate migration, investment opportunities from market inefficiencies, longer time-horizon portfolio construction, and the role of private wealth in incubating solutions that can scale more broadly.
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00:00 Welcome to the Podcast
00:27 SuperReturn Preview
01:34 Meet the Guests
02:50 Pete’s Background
04:04 Why Insurance Matters
05:44 SuperReturn Panel Themes
10:16 Insurance and Housing Markets
14:34 How Wealthy Clients Adapt
21:05 Resilience in Action
24:28 Scaling Future Solutions
25:09 Wildfire Readiness Playbook
26:08 Coalitions Across Communities
27:26 Private Wealth as Testbed
29:36 Advanced Insurance Tools
31:33 Rebuilding Portfolios for Climate
35:05 Long Term Greedy Resilience
38:18 Women and Purpose Driven Capital
42:02 Marsh Private Client Services
44:14 Resilience Investments Approach
47:24 Final Wrap and Resources
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