There's just a few days left to snag some Marketplace swag at a discount when you... Donate Today! 🎁

Insurers adapt to global warming

Janet Babin Aug 23, 2006
HTML EMBED:
COPY

Insurers adapt to global warming

Janet Babin Aug 23, 2006
HTML EMBED:
COPY

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.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.