Climate Change and Insurance: An Agenda for Action in the United States

Description:

This report is the first report of its kind that attempts to overlay a detailed distillation of climate change science with U.S. insurance industry activities around climate change. This report aims to go beyond an investigation of only hurricanes to also address the implications for the U.S. insurance industry of other impacts of climate change including forest fires, floods, and storm surge (although storm surge is not commercially insured, this report describes how government insurance backstops interact intimately with commercial insurance products and with consumer perception of risk). The report finds that U.S. insurers are far ahead of many of their overseas counterparts in assessing current catastrophic (cat) risk through sophisticated cat risk modeling that is based on historical weather events; however, U.S. insurers appear to lag behind their European peers who have begun to conduct studies of climate change and are beginning, though slowly, to incorporate future climate change scenarios into cat risk models, particularly for flooding.

Creator(s):
Creation Date: October 2006
Partner(s):
UNT Libraries
Collection(s):
Environmental Policy Collection
Usage:
Total Uses: 13
Past 30 days: 8
Yesterday: 0
Creator (Author):
Creator (Author):
Creator (Author):
Publisher Info:
Publisher Name: World Wildlife Fund – US and
Place of Publication: 1250 24th Street, N.W. 20037
Publisher Info:
Place of Publication: Königinstr. 28 D-80802 München Germany
Date(s):
  • Creation: October 2006
  • Harvested: October 2010
Description:

This report is the first report of its kind that attempts to overlay a detailed distillation of climate change science with U.S. insurance industry activities around climate change. This report aims to go beyond an investigation of only hurricanes to also address the implications for the U.S. insurance industry of other impacts of climate change including forest fires, floods, and storm surge (although storm surge is not commercially insured, this report describes how government insurance backstops interact intimately with commercial insurance products and with consumer perception of risk). The report finds that U.S. insurers are far ahead of many of their overseas counterparts in assessing current catastrophic (cat) risk through sophisticated cat risk modeling that is based on historical weather events; however, U.S. insurers appear to lag behind their European peers who have begun to conduct studies of climate change and are beginning, though slowly, to incorporate future climate change scenarios into cat risk models, particularly for flooding.

Physical Description:

46 p.:col. ill.

Language(s):
Subject(s):
Keyword(s): climate change | forest fires | rising sea level | flooding | environmental policy
Partner:
UNT Libraries
Collection:
Environmental Policy Collection
Identifier:
Resource Type: Text
Format: Text
Rights:
Access: Public