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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 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. [ 22 ] [ 23 ] [ 24 ] The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities.
The CFO’s office plays a vital role in compliance with the U.S. Securities and Exchange Commission’s (SEC) mandate to standardize climate-risk disclosures. Under the rules, public companies ...
The consequences of climate change are making homeowners insurance either unaffordable or unavailable for millions of Americans. Climate change tests the insurance industry and could lead to the ...
Nine U.S. insurance companies invest anywhere from $1.2 billion to $46.2 billion in fossil fuels ― enough to pay for the 28 billion-dollar climate disasters in 2023 several times over. It’s a ...
Climate risk management (CRM) is a term describing the strategies involved in reducing climate risk, through the work of various fields including climate change adaptation, disaster management and sustainable development.
South Carolina's climate is changing. Most of the state has warmed by one-half to one degree Fahrenheit (300-600 m°C) in the last century, and the sea is rising about one to one-and-a-half inches (2.5-3.8 cm) every decade. Higher water levels are eroding beaches, submerging low lands, and exacerbating coastal flooding. Like other southeastern ...