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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 ...
CEO Daily insight: Climate stability and the insurance market Good morning. The wildfires in Los Angeles have killed people, destroyed thousands of homes, and are now likely to exceed $50 billion ...
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 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 summary ultimately concluded that better understanding and monitoring of indirect socioeconomic impacts from climate change and chronic climate risks were important for CRM; that insurance performs a crucial role in climate risk mitigation for consumers, businesses, and banks; that changes in the insurance industry need to be monitored; and ...
Florida has instituted regulatory reforms that have reduced litigation and associated costs and has removed 400,000 policies from the state-run insurance program. As a result, eight insurance ...
Valuing climate change impacts in poorer countries less than domestic climate change impacts (both in terms of policy and the impacts of climate change) would be consistent with observed spending in rich countries on foreign aid [162] [163]: 229 A third approach looks at the problem from the perspective of who has contributed most to the problem.