Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said.
Tag: economic fallout
AM Best Maintains U.S. Commercial Lines Insurance Outlook at Negative
AM Best has maintained a market segment outlook of negative on the U.S. commercial lines industry for 2021, citing the uncertainty regarding the impact of COVID-19 and its economic fallout, along with the re-emergence of social inflation as courts reopen, as well as other factors that were adversely impacting the segment prior to the pandemic.… Continue reading AM Best Maintains U.S. Commercial Lines Insurance Outlook at Negative
Why Some State Economies Are Recovering Faster than Others Amid Pandemic
Six months into the pandemic, some states are recovering faster than others from the severe economic blow. In Maine, real estate is booming. In Nebraska, unemployment is below 5%. And in Rhode Island, small business employees have recently been working more hours than they did before the pandemic. As of last week, these states’ economies… Continue reading Why Some State Economies Are Recovering Faster than Others Amid Pandemic