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Many home insurers become insolvent after natural disasters, making households more likely to default on their mortgages.
Professor Parinitha Sastry and her co-authors won First Prize for the 2025 Marshall Blume Prizes in Financial Research for their groundbreaking paper, “When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets." Professor Sastry examines how mispricing of climate risk in mortgages and insurance creates taxpayer exposures and leads to excess credit flows to risky areas. Read about the paper on the Discoveries blog.
Events and Updates
Professor Karen Lewis at the 2026 Symposium
Pension Research Council Symposium
This conference explored how the rise of public debt is shaping saving and investment patterns of key players in the capital market, including pension systems, insurers, and households. Professor Karen Lewis presented on "Global Pension Asset Allocations and Debt Markets."
Perry Golkin W’74, WG’74, L’78, speaks at the PEVC Conference
Private Equity and Venture Capital Conference
The 30th annual Wharton PEVC Conference gathered leaders across private capital, centered on the theme Beyond Resilience: Private Capital in an Age of Reinvention. The conference was supported by the Harris Family Alternative Investments Program.
Professor Patrick Harker on a panel at the Wharton FinTech Conference
Wharton FinTech Conference
The Wharton Initiative on Financial Policy and Regulation sponsored the 2026 Wharton FinTech Conference. The conference featured engaging panel discussions and fireside chats that dove into the trends, challenges, and opportunities shaping the future of fintech.
In the News
What Rising Bond Yields Mean for Mortgages and Credit Card Rates
Professor Lu Liu joined ABC News to weigh in on whether borrowers can expect mortgage rates to change in the near future.
Looking back at Jerome Powell's 8-year term as Federal Reserve Chair
Professor Patrick Harker joined NPR Weekend Edition to discuss Federal Reserve Chair Jerome Powell's tenure at the central bank.
Philadelphia’s 2026 Sporting Events as an Economic Growth Engine
Philadelphia Today covered Wharton's "Economics of Hosting the World" panel, moderated by Professor Kevin Kaiser.
View recent Finance at Wharton news.
Photo of the Pension Research Council Symposium by Cameron Dunbar
Photo of the Private Equity and Venture Capital Conference by Jonathan Lewis and Matan Mergi
Photo of the Wharton FinTech Conference by Brandon C. Ballard