Are Insurance Companies the New Climate Ally?
Friday, April 3, 2009 - 17:21
in Earth & Climate
Insurance companies might not come to mind as key environmental advocates, but they have a vested interest in climate change: billions--if not trillions--of dollars. As sea levels rise, storms gain force and even as agricultural patterns change, insurance companies will have to shell out more and more cash to cover losses. Hurricane Ike, which struck the Texas coast in 2008, cost insurers in that state $6.6 billion, according to a report by The New York Times. Hefty price tags get passed along to consumers, taxpayers and investors alike. [More]