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Insurance woes increase as climate change impacts profitability

Insurance woes increase as climate change impacts profitability

In Iowa, a state typically seen as low-risk for insurers, companies are withdrawing due to increased losses caused by climate change.

Christopher Flavelle reports for The New York Times.

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climate insurance fossil fuels

Insurers invested $536B in fossil fuel interests - analysis

Insurance companies invested more than $536 billion in fossil fuel interests in 2019, even as they paid damages for climate-accelerated catastrophes, according to a report released yesterday by the California Department of Insurance.

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new york insurance climate impacts
Photo by Colton Duke on Unsplash

Insuring New York against climate change

Climate change poses "wide-ranging and material risks to the financial system," a New York state agency is warning, and the insurance industry needs to be prepared.

energy climate insurance

Coal, oil sands companies feel growing insurance squeeze

Insurance, a basic necessity for any business, is becoming increasingly expensive for some coal and oil sands companies. That's because a growing number of insurers are refusing to underwrite companies involved with producing or transporting the most emissions-intensive fossil fuels.
The perverse incentives of federal disaster aid
www.bloomberg.com

The perverse incentives of federal disaster aid

Experts worry that some federal disaster aid is actually creating perverse incentives for cities and states — and deterring them from making better climate policies.
australia insurance finance climate impacts
www.brisbanetimes.com.au

Last season's climate catastrophes cost insurers $5.4b, says IAG

Australia's most recent climate-related disasters cost insurers more than $5 billion as global warming increased the risk of catastrophic bushfires, damaging hailstorms and more powerful cyclones and east coast lows, the country's biggest insurer says.

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Bank of England to stress-test financial system against climate change risks
www.independent.co.uk

Bank of England to stress-test financial system against climate change risks

The Bank of England is to be the first central bank to conduct comprehensive tests on how well the financial system can withstand the risks posed by climate change.

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