Climate Change and the Reinsurance Implications: Insurance Journal

Climate Crisis - Insurance Risks

"Climate change presents “high exposure risk” to insurers and their policyholders on many fronts:

General liability claims for third-party bodily injury and property damage, directors and officers claims for a company’s failure to properly disclose climate-related or failure to align its business model with a low-carbon future and first-party loss, including business interruption.

To date, there have been minimal coverage actions relating to climate change, but expect that to change given the increasing number of underlying lawsuits and related activity, “coupled with the staggering liability that is at stake."

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