TEXT OF STORY
LISA NAPOLI: Here’s a new way to combat global warming: Insure yourself against it. Janet Babin looks at a new report from an environmental business group.
JANET BABIN: The Ceres report found more than 180 new types of insurance plans in the works.
Some would protect companies against possible catastrophes from global warming. Others would insure renewable energy developers against product failure.
AIG, the world’s largest insurer, is close to unveiling it own policies to protect against climate change.
Chris Winans says his clients were asking for more choices.
CHRIS WINANS:“We’re looking for ways to help our clients respond to the pressures they’re under to deal with the problem.”
If last year’s severe weather is any indication, businesses will likely hoard the extra insurance.
Offshore oil producers in the Gulf of Mexico had $10 billion in insured losses.
I’m Janet Babin for Marketplace.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?