A total of five US states now require insurance companies to show they are able to cope with climate-related risks.
Under the regulations, insurers with more than $100 million in premiums must complete a survey that measures their responses climate change impacts. The remaining states are less keen to examine their risks. Certain sectors of the industry are more likely to take climate risks into account, notably property, where the impacts are currently being felt.
- Climate News Network: More US insurers to reveal climate risks
- CERES: Two new states to require climate risk survey; more companies must now respond