Surging insurance premiums in regions vulnerable to climate change make sense, and government efforts to hold back those increases won’t work in the long term, Chubb Chief Executive Evan Greenberg said.
Tag: climate change and insurance
Climate Change Has Hit Home Insurance. Is Health Insurance Next?
Climate change is making house insurance more expensive and harder to get. Health insurance could be next, as research shows extreme heat and wildfires are putting more people in the hospital.
Climate Risk a Major Challenge for Insurance Industry, Treasury Says
Climate-related risks are becoming an increasing challenge for insurers, the U.S. Treasury Department said, urging state regulators to step up their so-far “limited” efforts to address the issue.
Climate Change, War-Related Risks Top Insurers’ Concerns
Climate change remains the top concern for insurance companies, even as Russia’s invasion of Ukraine fuels geopolitical and energy-related concerns. For the second year in a row, global warming is regarded as the greatest threat to society in the next five to ten years, according to a report released Sunday by French insurance giant AXA… Continue reading Climate Change, War-Related Risks Top Insurers’ Concerns
Report: Climate Change Is Hurting Insurers
Climate change is hurting the insurance industry and only 8% of insurers are preparing adequately for its impact, consultants Capgemini and financial industry body Efma said in a report on Tuesday. Insured losses from natural catastrophes have increased 250% in the last 30 years, with perils such as wildfires and storms, seen as particularly impacted… Continue reading Report: Climate Change Is Hurting Insurers
Young Insurance Professionals Want Action from Employers on Climate Change: Survey
A recent survey of 345 insurance employees and risk management students found that the majority are deeply concerned about climate change and want the industry to address it. Over half of respondents agreed that climate action should include reducing or ending fossil fuel underwriting and investments. The survey was conducted by Insurance Nerds and Insure… Continue reading Young Insurance Professionals Want Action from Employers on Climate Change: Survey
Climate Change Comes to Insurance: Opinion
Natural disasters have cost the United States more than $600 billion over the past five years. With climate change, those costs are expected to continue increasing. Moving forward, managing and distributing these harms will become increasingly important. Insurance is one tool to do so. Unfortunately, the insurance system is also at risk from climate change.… Continue reading Climate Change Comes to Insurance: Opinion