The burning of fossil fuels produces CO2 and other so-called greenhouse gases (GHGs) that scientists have linked to global warming and other changes in the Earth’s climate. In just the last year, so-called carbon extractors and heavy users of fossil fuels have come under heightened scrutiny. Insurance companies should pay close attention to developments related to climate change and make certain that they remain proactive in the way in which they address risk to their respective organizations.
Specifically, insurers should be concerned with any aspect of climate change that could adversely impact insurer assets, including claims, investment losses or regulatory fines.
