Insurance Companies Making Climate Change Policy

A place near the water has been an American dream for a very long time. Fifty-four percent of Americans live within 50 miles of a coast.

This is the year, however, in which the big boys in global finance got religion about climate change. As a result, this American dream — as far north as the Washington area, and even New York and New England — is under attack.

So begins a Washington Post article, A Dream Blown Away.

Highway fatalities dropped when insurance companies started financially punishing unsafe drivers, as well as makers of unsafe cars. Cigarette smokers saw their life insurance premiums skyrocket.

The big buzz in the insurance industry today is climate change.

Lloyd’s of London’s June report is titled: “Climate Change: Adapt or Bust.”

Insurance companies are focusing on areas susceptible to hurricanes and sea level rise. Quite a few people with expensive houses can’t buy insurance.

Hurricane Jeanne in Maryland
Hurricane Jeanne in Maryland

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