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Faced with losing coverage at a time when insurers are either not writing new California policies or have been raising rates dramatically to account for the increased risks posed by climate change ...
The insurance industry is already reeling from a string of billion-dollar disasters, and the crisis could get worse, researchers and activists warn, as climate change fuels stronger storms and ...
The insurance industry has been criticized by environmental activists and Democratic Party lawmakers for continuing to provide coverage to fossil fuel companies, while Republican Party lawmakers have criticized the industry for curbing policy coverage to oil-and-gas companies (even though most U.S. insurance companies have generally refrained from doing so in contrast to insurers ...
Insurance companies are revising their models to keep up with these changes, much as they did when smoking-related illnesses became a significant cost burden in life and health insurance. Some ...
When Michael Monaghan, a real estate agent with Coldwell Banker Sellers Realty in northern California, got an offer for a home in Bayside at the seller’s $650,000 list price in September, he ...
Climate risk insurance is a type of insurance designed to mitigate the financial and other risk associated with climate change, especially phenomena like extreme weather. [ 1 ] [ 2 ] [ 3 ] The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities.
The valuation of costs and benefits of climate change can be controversial [4]: 936–938 because some climate change impacts are difficult to assign a value to, e.g., ecosystems and human health. [51] [52] For (2), the standard criterion is the Kaldor–Hicks [53]: 3 compensation principle. [47]
American homeowners and renters are paying more for home insurance due to an increase in disastrous weather events triggered by climate change. Since 1980, the first year on record, "the U.S. has...