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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 ...
As disasters linked to climate change become more frequent in the U.S., homeowners across the country are paying the price through skyrocketing insurance costs — and not only in states like ...
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.
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.
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 change can also be used more broadly to include changes to the climate that have happened throughout Earth's history. [32] Global warming—used as early as 1975 [33] —became the more popular term after NASA climate scientist James Hansen used it in his 1988 testimony in the U.S. Senate. [34] Since the 2000s, climate change has ...