1,680 of the nation’s high-hazard dams are in risky condition. When they break they endanger people, interrupt businesses and cause massive property damage.
If it can be determined that individual companies are responsible for climate change, investors and insurers might want to brace themselves for massive payouts.
In our economy’s engine, capital is the fuel and insurance is the oxygen. How insurers pivot and manage their exposure to climate change could yet play a major role in reducing the threat.
It is in the self-interest of the financial industry to address new risks brought about by climate change and to scale up the necessary investments to make our societies more resilient.
A number of commercial insurance carriers have now announced that they will limit their investments and underwriting activities around coal, including Chubb.
Climate change is generating powerful storms, excess flooding and billions in damages. These are the risks insurers need to keep an eye on as temperatures increase.
A new UN report warns that climate change will have dire effects on the global food and water supply, potentially making some parts of the globe uninhabitable and begging the question: when will we get serious about climate change?
Adopting smart surfaces city-wide provides a broad range of financial benefits and risk reduction impacts, including increased climate resilience and lowered risk of credit rating downgrades.
More than 7,000 companies have submitted reports explaining how global warming will damage their businesses financially; and now it’s reaching into the trillions.
Risk managers and insurers think a lot about hurricanes and the immediate damage left in their wakes: buildings leveled, businesses ruined. But what about lingering exposures?