A new report warns insurance companies could face billions of dollars in losses if they stay on the current course of investments that contribute to climate change, at “a scale exceeding some of the worst wildfires in California’s history.”
The findings of what is being touted as the first-ever “stress test” of insurance company investments by insurance regulators from California, Oregon and Washington titled, “The Hidden Cost of Delaying Climate Action for West Coast Insurance Markets,” was released on Tuesday.
Companies that do not have effective long-term plan