Increasingly, climate change is becoming a pervasive business risk that is perilous to ignore. Flood, drought, wildfire, severe windstorms, and other anomalous weather effects will likely jeopardize most every organization in time, whether directly or indirectly.
If we don’t approach renewables with safety and resiliency in mind, increased investments driven by corporate ESG measures and new tax incentives could result in dangerous accidents and massive losses.
Some insurers have stopped covering climate change-related risks, opening opportunities to the excess and surplus market. E&S and specialty lines are well-suited to it, with dedicated claims and underwriting teams to take on severe weather-related exposures.
The liability linkage between climate change and corporate interests appears to be growing stronger, writes Risk & Insurance editor-in-chief Dan Reynolds. Could this be the start of a new era of cooperation?
This is a call to action. It’s time for baby boomers to shake off the feeling that we have done our work and now it’s time to relax. Whether you’ve been aware of it or not, our generation’s collective lifestyle is causing our planet to be unlivable. Now that we know, we can’t just look… View Article