Insurance industry isn’t ready for what climate change has in store

insurance industry climate change

The damaging severe weather is becoming more frequent and more expensive in the U.S. Last year in the United States, there were 11 extreme weather events that struck various parts of the country each leaving a minimum of $1 billion worth of damages behind, as well as thousands upon thousands of claims to the insurance industry. Superstorm Sandy, alone, left behind economic losses of $50 billion, not to mention the loss of human life. That storm also brought with it a cost tens of billions to the insurance industry, particularly…

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