Insurance industry becoming a fierce opponent of climate change

Climate Change homeowners insurance industry

Insurance industry continues to consider climate change a problem The insurance industry has long been attuned to the potential threat represented by climate change. For some insurers, climate change is not an issue of debate, as they are primarily concerned with the intensity and frequency of natural disasters. Over the past two years, the insurance industry has seen trillions in losses associated with uncharacteristically powerful natural disasters, such as Hurricane Sandy, which struck the U.S. in late November. Though climate change remains a volatile subject in the world of politics…

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Insurance companies in three states required to provide their response plans for climate change

The insurance commissioners for New York, California, and Washington state have announced that they will now be requiring insurers to disclose a climate change response plan that will outline the way in which they plan to respond to the changing risks that customers and businesses face as wildfires, severe storms, and rising sea levels become more common. Until now, those three states have asked only about a third of the larger insurance companies to provide information in the form of responses to a survey, but for all other insurers, it…

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