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Is the Insurance Industry Ready for Climate Change? 18 March 13

Ceres analysis of first-ever industry-wide survey finds that only 23 of 184 companies have comprehensive climate change strategies, with some leaders beginning to emerge. The Ceres report, Insurer Climate Risk Disclosure Survey: 2012 Findings & Recommendations, is based on 184 company disclosures in response to a climate risk survey developed by insurance regulators. Surveys were completed by insurers licensed to operate in three states – California, New York and Washington – that require climate risk disclosure. Collectively, these companies represent a significant majority of the American insurance market.

"Every segment of the insurance industry faces climate risks, yet the industry's response has been highly uneven," said Ceres president Mindy Lubber, who wrote the report foreword. "The implications of this are profound because the insurance sector is a key driver of the economy. If climate change undermines the future availability of insurance products and risk management services in major markets throughout the US, it threatens the economy and taxpayers as well."

Ceres is an advocate for sustainability leadership. Ceres mobilizes a powerful network of investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy.

View March 8, 2013 Quartz article
View March 7, 2013 Ceres news release
View 1998 Elsevier report
View December 17, 2012 Canadian Underwriter article
View April 10, 2013 Ceres news release
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