bs-preloader__icon
ru kz en

Climate change risks and regulation of the US insurance industry

In the US, the regulatory goals of the insurance industry are well developed and can vary significantly depending on social and economic priorities. US companies should consider climate change like any other threat to business, according to NatLawReview.com.
Climate change risks and regulation of the US insurance industry

The global insurance industry's ability to manage public risk is threatened by climate change. According to experts, more frequent extreme weather events lead to uninsured losses and make some assets uninsurable.

The analysis by a coalition of the world's largest insurers concluded that the “security hole”, the difference between disaster losses and insured premiums, has quadrupled to $100 billion a year since the 1980s.

“Every insurer should take a proportionate approach that reflects its exposure to the financial risks of climate change, and the nature, scale and complexity of its business. DFS understands that climate change affects each insurer in different ways and to varying degrees depending on size, complexity, geographic distribution, business lines, investment strategies and other factors. DFS realizes that insurers do not have the same level of resources to manage these risks and are at different stages of development,” says the DFS article.

Source: https://www.natlawreview.com/article/climate-change-risks-and-us-insurance-industry-regulation

Photos are from open sources.

Share
read also
Cheerful Year Beginning
Cheerful Year Beginning

The LICs in terms of premiums continued to grow in January, 2020....

Kazakhstani infected with coronavirus received insurance payment
Kazakhstani infected with coronavirus received insurance payment

The first insurance payout in Kazakhstan in the amount of 500,000 tenge was made by t...

UK Life Insurance Sector Rating Downgraded to Negative
UK Life Insurance Sector Rating Downgraded to Negative

The international rating agency Fitch Ratings revised the forecast for the UK life in...

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application