The Changing Climate of Property Insurance

Zelle Hofmann Attorney Stephen Rogers, presented on the topic The Changing Climate of Property Insurance at the 2008 PLRB/FDCC Critical Issues for Insurance Executives Conference.

Climate change has emerged as one of the most significant issues facing the planet. The business community largely recognizes that it will be impacted by the politics, economics and physical effects of climate change, sooner rather than later. For the insurance industry, whose business is all about risk management, the risk simply is too great to ignore. In fact, some view the insurance industry as the “canary-in-the-coalmine” because it is one of the principal areas where the financial impact of climate change will first manifest. The purpose of this presentation was to highlight the risks and opportunities that climate change, and the related regulatory steps being taken to impede and halt global warming, pose for the property insurance market.

To view a copy of the paper presented, co-authored by Kristin Cummings and Thomas Cook, please click here.