New Report Co-Authored with California Department of Insurance Analyzes Climate Risks to Insurance Industry
Climate change threatens the industry’s viability right when it is needed most. The new report from CDI and CLEE outlines key risks and opportunities for insurers, regulators, and residents.
Climate change presents a wide range of risks to California’s insurance industry, as Californians across the state contend with unprecedented wildfires, changing storm patterns, increased risks of flooding and sea level rise, and disruptions to business from agriculture to fisheries and beyond. Potential decarbonization of the economy and litigation based on climate-related damages further threaten …CONTINUE READING
The story of the Price-Anderson Act: how Congress made nuclear power financially viable in the U.S. by eliminating accountability for risk
Ever wonder how nuclear power plants have been able to get financial backing in the U.S. despite the huge, and largely uncertain, potential risks they pose? Or why there are nuclear plants within a few hours’ drive of major population centers such as Los Angeles and New York? Or who will pay the costs that …CONTINUE READING
I’ve spent some time over the past two years studying the relationship between the insurance industry and climate change. Yesterday there was an important development in this area: the National Association of Insurance Commissioners (NAIC) , the group of state regulators that collectively regulate insurance in the U.S., adopted for the first time a requirement that large insurers …CONTINUE READING