Insurers React to Climate Change
Wednesday October 29, 2014
Mother Jones reviews how insurance companies are responding to climate change. Climate change will increase the likelihood of flooding in low-lying areas around the world. In addition, climate change will change how big storms strike the United States. From Mother Jones:
Globally, average annual weather-related losses have increased more than tenfold in the last several decades, from $10 billion per year in the period 1974-1983 to $131 billion in 2004-2013.
Insurance companies are the big businesses that will be most affected by climate change and affected first. Their immediate and public analysis and proactivity is the clearest sign that climate change is real and not a global conspiracy. Two large insurers maintain websites dedicated to the issue:
For these businesses, climate change is an existential risk and that’s why they are responding to the issue.