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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 ...
Insurance companies are canceling homeowner policies across the U.S. — even in regions that aren't considered climate hot spots. As climate risks mount, U.S. homeowners face soaring insurance ...
The devastating Los Angeles fires have been a grim reminder of America’s homeowners insurance crisis, as climate change intensifies potential property damage and insurers scramble to price ...
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 ...
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.
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.
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 ...
Some climate change effects: wildfire caused by heat and dryness, bleached coral caused by ocean acidification and heating, environmental migration caused by desertification, and coastal flooding caused by storms and sea level rise. Effects of climate change are well documented and growing for Earth's natural environment and human societies. Changes to the climate system include an overall ...