Insurers are raising premiums and are cutting back coverage because of more damaging storms and wildfires, made worse by climate change. They insure the fossil-fuel producers whose products are blamed for causing climate change. And, as big investors, they fund these same companies. Most try to promote their climate bona fides.
Tag: climate change and insurers
BOE Says Climate Transition Will Cost UK Banks, Insurers Billions
The Bank of England said UK banks and insurers face climate-related losses of £209 billion to almost £334 billion over the next three decades depending on how quickly the government acts to shift the economy toward net zero emissions. The UK central bank said the financial system is well placed to absorb those losses, though… Continue reading BOE Says Climate Transition Will Cost UK Banks, Insurers Billions
Carriers Play Critical Role in Addressing Climate-Related Risks: III
The Insurance Information Institute (Triple-I) stated in response to a federal government Request for Information that U.S. insurers are providing financial protection from property damage caused by climate-related risks while also closely assessing them (RFI). In a letter sent this week to the U.S. Treasury Department’s Federal Insurance Office (FIO), the Triple-I noted that four… Continue reading Carriers Play Critical Role in Addressing Climate-Related Risks: III