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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 ...
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 ...
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 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 ...
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 rising ...
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 ...
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 ...