Ceres released a report September 21 finding that extreme weather events and other effects of global warming have resulted in greater risks to U.S. insurers. The report, Stormy Futures for U.S. Property and Casualty Insurers: The Growing Costs and Risks of Extreme Weather Events, concluded that extreme weather cost U.S. property and casualty insurers $34 billion in 2011. Though losses in 2012 are lower than 2011 thus far, this year’s drought is expected to cost insurers $20 billion.
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Climate change increases insurer risk
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