The insurance industry is bracing for another challenging year as climate driven disasters continue to intensify, placing immense financial strain on both insurers and policyholders.
Tag: climate
The Insurance Industry’s Reckoning With Climate Risk
Mounting financial risks from more frequent and severe weather events—ranging from wildfires and storms to floods—have led to skyrocketing premiums, insurer withdrawals from high-risk states, and growing concerns about solvency.
New Peer Network Aims to Help U.S. Cities Adopt Climate-Resilient Infrastructure
A new initiative from the Smart Surfaces Coalition seeks to support U.S. cities in enhancing climate resilience through innovative urban infrastructure.
Navigating Rising Climate Litigation Risks
The evolving landscape of climate-related lawsuits and ESG regulations is placing new demands on companies, their leaders, and insurers.
New Jersey Proposes Insurance Surcharges and Oil Fees for Climate Resilience
In response to increasing climate-related disasters, a New Jersey group has proposed a 2% surcharge on property insurance policies and mandatory fees on the oil and gas industries to fund climate resiliency projects.