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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 ...
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 ...
Climate-fueled disasters have shattered the business model that used to support the property insurance industry, leaving the most vulnerable parts of the country on the brink of becoming uninsurable.
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...
This is often linked to climate change denialism promoted by the fossil fuel industry: [8] [9] the same tactics were employed by fossil fuel groups such as the American Petroleum Institute to cast doubt on climate science from the 1990s [10] and some of the same PR firms and individuals engaged to claim that tobacco smoking was safe, were later ...