The Financial Stability Board (FSB) has warned in a new report that financial markets could be disrupted by climate change and associated catastrophes in a number of ways. From costs rising slowly but significantly over time to sudden unexpected shocks having huge ripple effects, climate change is going to be … [continued]
Senators Elizabeth Warren, Chris Van Hollen, and Sheldon Whitehouse are requesting that the Treasury Department collect comprehensive data on how climate crisis has destabilized the insurance industry. Such transparency will be important so homeowners understand the risks they face.
After years of reaping vast profits, insurance companies are moaning about having to pay out extreme weather claims. These are the same insurance companies that continue to support fossil fuel companies responsible for the climate crisis. It’s an example of cognitive dissonance in its purest form.
The insurance industry survives and thrives on two things: its ability to quantify risk and then its ability to profit on it. Whether talking about home insurance, car insurance, life insurance, or some other kind of insurance, the first step is to do the math of how likely it is … [continued]
Whether you own a home, a business, or other assets, insurance is an important part of any budgetary calculation involving protection of property. While the insurance and reinsurance sector are at the forefront of translating weather and climate information into financial and societal risks, the industry’s focus has been on … [continued]
How can you build it if you can’t insure it? In a risk averse world, it is getting harder and harder to insure those activities which are increasing the risk of severe climate events. AXA, a France-based multinational insurance firm with approximately a trillion dollars worth of assets, is leading … [continued]
NOAA estimates losses from natural disasters totaled $306 billion in 2017. The influence of climate change on the severity of those disasters is getting harder and harder to ignore.
The UK-based insurance company Direct Line — the largest UK-based motor insurer, that is — has begun offering Tesla owners a 5% discount if they get Tesla’s Autopilot technology.
There’s been more than $3.3 billion in insured losses caused by the wildfires in California so far this year, with the figure expected to rise, the California Department of Insurance has revealed.
Those figures relate only to the claims reported so far this year, by 15 insurers that are active in California — so, the figure will keep climbing.
Wind energy is cheap. As such, it’s a good long-term investment for companies with the capital… such as insurance companies. A new analysis from PwC, European Power & Renewables Deals. Quarterly M&A outlook, finds that insurers and other financial bodies are increasingly looking to wind energy in Europe for … [continued]
