Climate-related Insurance Activities Not Growing Fast Enough

April 6, 2009

Email this story Print this post Add your comments

Insurers continue to consider the environment and climate in their policies, although the number of such policies is not rising fast enough, according to a new report from Ceres.

In developing its report,on climate-focused insurance, “From Risk to Opportunity: Insurer Responses to Climate Change,” (PDF) Ceres pored over 643 climate-related activities from 244 insurers, reinsurers, brokers and insurance organizations.

By “activities,” Ceres refers to efforts toward:

understanding the climate change problem
promoting loss prevention
aligning terms and conditions with risk-reducing behavior
crafting innovative insurance products
offering carbon risk management and offsets
financing customer improvements
investment in climate change solutions
building awareness and participating in public policy
leading by example
carbon risk disclosure

The climate-related activities surveyed were from companies operating in 29 countries, yet 37 percent of all the activities were proffered by U.S. companies.

European insurance providers have deep understanding of climate as it relates to insurance. According to the report, 47 percent of such activities originate in Europe.

After accounting for the U.S. and Europe, that leaves the rest of the world generating just 16 percent of climate-related insurance activities.

Email this story Print this post Add your comments

Advertisers

Stay competitive through sustainability.

Find out how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Survey Results: Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/25/2009
11/24/2009
11/23/2009

Charts [ see all ]

Government Intervention Required to Drive “Green” Technology

62% of Firms Assign Environmental Team for Green Goals

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Jetset1 on Energy-Savings Claims Don’t Add Up for Microsoft’s Windows 7
"This article is wrong. If your PC is less than a few years old,..."

Iain on McD’s in Germany Trades Red for Green In Logo
"Now if only their food was healthy and nutritious."

Phil on Climate Scientists Alleged to Have Manipulated Data
"After reading all the comments it seems obvious, to me, that the individuals populating..."

Marc Hudson on McD’s in Germany Trades Red for Green In Logo
"where will the stone be mined from- under what labor rights conditions? Will the..."

Clyde on Climate Scientists Alleged to Have Manipulated Data
"This just shows all the Global Warming freaks out there are a bunch of criminals cut from..."

Car Rental Singapore on News Corp. Taps Hara for Energy Efficiency, Environmental Management
"Energy reduction is a good thing. We need to save the..."

Meme Mine on WWF, WRI Make Last-Minute Pitches on Climate Change
"To the voting public, what the scientists say is irrelevant anymore for if you read..."

Environmental Leader