Insurance Industry’s Response to Global Warming

Ft. Lauderdale, FL (October 18, 2007)- A report released at the annual conference of the International Association of Insurance Supervisors finds that hundreds of new insurance initiatives, including ‘green’ building credits, drought-protection in developing countries and incentives for investing in renewable energy and carbon emissions trading are being offered to tackle climate change and rising weather-related losses in the United States and globally.

The report, “From Risk to Opportunity 2007: Insurer Responses to Climate Change,” highlights the insurance industry’s unique, powerful role historically in helping society grapple with and manage emerging risks. “Insurers are beginning to respond to global warming–we’re seeing a rapid proliferation of products that will reduce climate-related financial losses, as well as the pollution causing global warming,” said Mindy Lubber, president of Ceres, a leading U.S. coalition of investors and environmental groups.
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From Risk to Opportunity 2007
International Association of Insurance Supervisors