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Hurricane Sandy

What Role Should Climate Risk Play in Insurers’ Business Strategies?

Insurers are in the business of managing risk. But does this include risks associated with climate change? A growing number of insurance companies say yes, according to a new report by sustainability advocacy organization Ceres. But most insurers still give climate change risk minimal attention. Two years ago insurance regulators … Read more »

Insurance Companies’ Fossil Fuel Investments a ‘Potential $459 Billion Liability’

Insurance Companies’ Fossil Fuel Investments a ‘Potential $459 Billion Liability’

The insurance industry’s massive investments in fossil fuel companies — to the tune of $459 billion — represents a risky bet as demand for coal, oil and gas drops and renewable energy gains momentum, according to a Ceres report released yesterday. Insurance groups Ameriprise (12.4 percent), Lincoln National (11.8 percent) … Read more »

wildfire

More States Requiring Insurers Complete Climate Risk Survey

The Connecticut and Minnesota Departments of Insurance have joined California, New York and Washington in requiring insurers respond to the Climate Risk Survey adopted in 2009 by the National Association of Insurance Commissioners. Despite NAIC approval in 2009, the remaining 45 states have declined to administer the survey. California Insurance … Read more »