But please, don't believe me, I have sourced 10 articles on the subject. So it would also be nice when you are giving us all more information on thinking about climate change if you could include a few studies funded not just by Big Energy, but Big Insurance as well.
Allstate, for instance, has said that climate change has prompted it to cancel or not renew policies in many Gulf Coast states, with recent hurricanes wiping out all of the profits it had garnered in 75 years of selling homeowners insurance
Insurance in a Climate of Change: Availability & Affordability
The rise in sea level caused by climate change will further increase the risk of storm surge.” Most insurers, including the reinsurance companies that bear much of the ultimate risk in the industry, have little time for the arguments heard in some right-wing circles that climate change isn’t happening, and are quite comfortable with the scientific consensus that burning fossil fuels is the main culprit of global warming.
StopGlobalWarming.org » For Insurers, No Doubts on Climate Change
Growing evidence suggests that climate change is worsening through droughts and other severe weather events, such as hurricanes, tornadoes, and floods. These natural disasters can destroy homes, cars, businesses and crops, leading to more and larger insurance claims.
As a result, insurers in some parts of the country have stopped offering coverage, and those that do offer coverage often limit what they cover. It’s also meant higher insurance premiums that many people cannot afford, leaving them uninsured or underinsured.
Climate Change and your insurance
Private insurers also point fingers at a changing climate, citing a report issued by the Intergovernmental Panel on Climate Change (IPCC) earlier this year that concluded global warming is to blame for a doubling over the past five years of natural disasters—and that the situation will worsen if nothing is done to stop it.
Insurers Claim Global Warming Makes Some Regions Too Hot to Handle: Scientific American
Given that accurate and unbiased weather forecasts are key to property insurers’ business, the fact that the industry broadly accepts that climate change is real and likely to be a problem should be taken seriously by anyone who believes in the power of markets to aggregate information.
Insurers and Climate Change: The Truth is More Complicated than the Sound Bytes
Insurance companies are actively looking for more detailed weather and climate data to help make decisions, said Kyle Beatty, senior vice president for business solutions at Atmospheric and Environmental Research (AER). Property and casualty insurance companies have asked AER and 11 other companies to conduct research on tornado and hail frequency in Canada and the United States, Beatty said.
Billion-Dollar Decisions Held up by Poor Use of Climate Data, Insurers Say - Bloomberg
There are few industries more exposed to financial risk from climate change than insurance. Every time the ocean creeps into neighborhoods or hurricanes shatter windows or drought kills a planting, it costs insurers money. Unsurprisingly, the industry at large is trying to figure out how to limit its losses from extreme weather events. Individual insurers are a little slower to act.
Insurers Aren't So Worried About Climate Change That They're Preparing for It - Philip Bump - The Atlantic Wire
But what may be surprising to E2 members is that more and more, it's the federal government – and not the insurance industry – that pays for cleanup efforts in the aftermath of the kinds of extreme weather events associated with climate change.
Insurance companies seeing increasing risk from climate change — Climate Solutions
If climate change raises the probability of horrible outcomes where the insurance companies must payout a fortune, then doesn’t this industry have an incentive to root for carbon mitigation?
The Economics of Insurance in the Face of Climate Change | Legal Planet: Environmental Law and Policy
The biggest weather concern is about hurricanes. There also was some concern about wildfires and convective storms that produce tornadoes, thunderstorms and other undesirable weather events.
Is the Insurance Industry Clueless about the Risks Posed by Climate Change? - Forbes
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