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One of the ironies of climate change is that as it is making insurance unavailable or unaffordable for millions of Americans, many homeowners are forced to turn to last-resort insurers who are ...
The insurance industry has been criticized by environmental activists and Democratic Party lawmakers for continuing to provide coverage to fossil fuel companies, while Republican Party lawmakers have criticized the industry for curbing policy coverage to oil-and-gas companies (even though most U.S. insurance companies have generally refrained from doing so in contrast to insurers ...
The devastating Los Angeles fires have been a grim reminder of America’s homeowners insurance crisis, as climate change intensifies potential property damage and insurers scramble to price ...
Nine U.S. insurance companies invest anywhere from $1.2 billion to $46.2 billion in fossil fuels ― enough to pay for the 28 billion-dollar climate disasters in 2023 several times over. It’s a ...
Climate risk insurance is a type of insurance designed to mitigate the financial and other risk associated with climate change, especially phenomena like extreme weather. [ 1 ] [ 2 ] [ 3 ] The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities.
The climate in Texas is changing partially due to global warming and rising trends in greenhouse gas emissions. [1] As of 2016, most area of Texas had already warmed by 1.5 °F (0.83 °C) since the previous century because of greenhouse gas emissions by the United States and other countries. [1]
Insurance firm Nationwide last year did not renew around 10,000 policies in parts of North Carolina due in part to risks posed by climate change and hurricanes. "Insurance companies are having to ...
To be sure, the 2001 Lawrence Berkeley National Laboratory report included in the Works cited section does note in its synopsis that 15% of premium revenue to U.S. insurance companies in 1997 came from foreign policyholders and was growing faster than total premium revenue in the aggregate, but this article primarily discusses the impacts of ...