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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 ...
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.
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. [ 22 ] [ 23 ] [ 24 ] The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities.
Wolf and her husband acted quickly, securing additional fire insurance coverage for roughly $7,000 a year, but AAA then embarked on a full policy review that required an inspection of the property.
Parametric insurance (also called index-based insurance) is a non-traditional insurance product that offers pre-specified payouts based upon a trigger event. [1] Trigger events depend on the nature of the parametric policy and can include environmental triggers such as wind speed and rainfall measurements, business-related triggers such as foot traffic, [2] and more.
Climate risk management covers a broad range of potential actions, including: early-response systems, strategic diversification, dynamic resource-allocation rules, financial instruments (such as climate risk insurance), infrastructure design and capacity building.
Insurance companies typically charge higher rates for drivers under 25 based on statistical data showing a significantly higher risk of accidents and insurance claims for this age group.
[170] [171] Due to rising hospitalizations from the effects of climate change on human health (like heat stress and cardiorespiratory fitness impacts from wildfire smoke), [172] [173] [174] health insurance companies in the United States are beginning to develop models for their policies related to climate risk. [175] Healthcare policy analysis ...