Ceres: Insurers Acknowledge Climate Change, Not Prepared for Threats
Insurers across all sectors are acknowledging the impacts of climate change on their business, but they are failing to engage in discussions about how to stay ahead of the potential threats, a new preparedness study says.
“Every segment of the insurance industry faces climate risks, yet the industry’s response has been highly uneven,” says Mindy Lubber, president of Ceres, which conducted the study. “The implications of this are profound because the insurance sector is a key driver of the economy. If climate change undermines the future availability of insurance products and risk management services in major markets throughout the US, it threatens the economy and taxpayers as well.”