Broker Marsh, a unit of Marsh & McLennan, said on Monday it was launching the world’s first dedicated insurance for hydrogen energy projects, as the nascent industry looks to scale up quickly in the fight against climate change. As the world targets net-zero emissions by mid-century in an effort to cap global warming, hydrogen, particularly… Continue reading Insurance Broker Marsh Launches World’s First Coverage for Hydrogen Projects
Tag: climate change
Some Properties Are Getting Too Costly to Insure Amid Climate Change
As climate change threatens the United States with more natural disasters, it’s becoming more expensive for Americans to insure their homes — and the situation is only expected to worsen, according to experts. “These things are happening more frequently, and they’re causing more damage,” said Jeremy Porter, chief research officer at First Street Foundation, a… Continue reading Some Properties Are Getting Too Costly to Insure Amid Climate Change
Vulnerability a Key Driver of Emerging World Climate Policy Commitments: WTW
Commitment on climate policy in the emerging world is strongest in countries most vulnerable to the impacts of global warming and in those with effective governments, but weakest in those reliant on fossil-fuel income, according to new analysis by Oxford Analytica and WTW, a leading global advisory, broking, and solutions company. Of 62 nations and… Continue reading Vulnerability a Key Driver of Emerging World Climate Policy Commitments: WTW
Bold Action, Big Funding Needed for Hurricanes, Climate
After two of the most devastating hurricane seasons in recent memory, particularly for my home state of Louisiana, another one begins. On a recent return trip, as my plane descended into the New Orleans airport, I saw countless homes with blue tarps covering their roofs, nine months after Hurricane Ida wreaked havoc from Louisiana’s bayou… Continue reading Bold Action, Big Funding Needed for Hurricanes, Climate
FEMA Fund Debuts as Natural Disasters Grow More Damaging, Costly
A new fund is betting on companies that help with recovery from natural disasters as climate change raises the risk of hurricanes, wildfires and other catastrophes. The Procure Disaster Recovery Strategy ETF is debuting Wednesday under the ticker FEMA. Tracking an index, it holds companies involved in risk mitigation and reconstruction, including those that provide… Continue reading FEMA Fund Debuts as Natural Disasters Grow More Damaging, Costly
Most of U.S. West Is in Severe Drought as Peak Wildfire Season Looms
The American West is experiencing its worst drought on record, bringing new water restrictions, wildfire danger, and anxiety to one of the country’s fastest-growing regions as summer approaches. According to tree-ring records analyzed by researchers from the University of California, Los Angeles, much of the West has been mired in a drought dating back to… Continue reading Most of U.S. West Is in Severe Drought as Peak Wildfire Season Looms
Inaction on Climate Change Could Cost the World’s Economy $178 Trillion by 2070
A new report from the Deloitte Center for Sustainable Progress (DCSP) released today during the World Economic Forum’s annual meeting indicates that—if left unchecked—climate change could cost the global economy $178 trillion over the next 50 years, or a 7.6% cut to global gross domestic product (GDP) in the year 2070 alone. If global warming… Continue reading Inaction on Climate Change Could Cost the World’s Economy $178 Trillion by 2070
Up to Two-Thirds of Homes Destroyed in Marshall Fire May Be Underinsured
According to preliminary estimates from Colorado’s insurance division, one-third to two-thirds of the homes destroyed in the Marshall Fire may have been underinsured for replacement costs (DOI). “One of the more troubling issues in the aftermath of the Marshall Fire has been the problem of underinsurance for people who lost their homes,” the Department of… Continue reading Up to Two-Thirds of Homes Destroyed in Marshall Fire May Be Underinsured
Allianz Toughens Oil & Gas Policy to Help Meet Climate Goal
Allianz, Europe’s largest insurer, plans to take a tougher stance on insuring the oil and gas industry as part of efforts to align its underwriting policies with the global climate goal, the company announced on Friday. The move is the latest by a major insurer to reduce insurance to the energy sector, which is a… Continue reading Allianz Toughens Oil & Gas Policy to Help Meet Climate Goal
U.S. Lawmakers Ask Insurers to Stop Underwriting Fossil Fuels
A group of Democratic lawmakers, mostly from the Congressional Progressive Caucus, has asked some of the country’s largest insurance companies to stop underwriting new fossil-fuel projects that contribute to climate change. Representatives Mondaire Jones and Alexandria Ocasio-Cortez of New York, as well as Jared Huffman and Adam B. Schiff of California, were among 16 lawmakers… Continue reading U.S. Lawmakers Ask Insurers to Stop Underwriting Fossil Fuels