Insurance in a Climate of Change

Evan Mills
Lawrence Berkeley Laboratory
MS 90-4000
1 Cyclotron Rd.
Berkeley, CA 94720 USA

Published in Science, Vol 309, Issue 5737, pp.1040-1044.

August 12, 2005

LBNL-57943

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Abstract

Climate change can have adverse impacts on insurance affordability and availability, potentially slowing the growth of the industry and shifting more of the burden to governments and individuals. Most forms of insurance are vulnerable, including property, liability, health, and life. It is incumbent on insurers, their regulators, and the policy community to develop a better grasp of the physical and business risks. Insurers are well positioned to participate in public-private initiatives to monitor loss trends, improve catastrophe modeling, address the causes of climate change, and prepare for and adapt to the impacts.

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