Friday, December 11, 2009

US insurance regulators hold a climate change summit

Phil Gusman in National Underwriter: Insurers are increasingly offering products and promoting behavior that address the growing risk of climate change, according to presentations delivered at an insurance regulators’ Climate Risk Summit. The meeting here during which the science of and responses to global warming were discussed was sponsored by the National Association of Insurance Commissioners Climate Change and Global Warming Task Force.

…Insurers outlined an array of products and initiatives in which they are involved, and offered projections on how the industry can constructively participate in a warming global environment going forward.

Stephen Bushnell, product director at Fireman’s Fund Insurance Company, which is an Allianz company, outlined products his company has designed to address energy emission-driven climate change, including coverage for certified green buildings and a green homeowners product in 2008, as well as variety of other green products ranging from coverages for manufacturers to automobiles. Looking forward, he said insurers and policymakers can work together to build and rebuild property intelligently – updating building codes to reflect exposure to natural disaster risks associated with climate change.

…Areas for cooperation were perhaps highlighted by two experts in separate fields citing different flaws with building codes. Mr. Bushnell noted that energy efficient buildings, such as those that are certified under the Leadership in Energy and Environmental Design (LEED) rating system, do nothing for improving coastal, wind and fire resistance.

Meanwhile, Evan Mills, of the U.S. Department of Energy’s Lawrence Berkeley National Laboratory, in an earlier presentation pointed out that structures built outside of flood zones and designed to withstand wind damage are not always the most energy efficient….

Two houses damaged in the 1897 flood of the Red River. The image was taken from Front Street looking south.

1 comment:

Great West Life assurance said...

Hello. I think that people should be more interested in the problem of global warming and climate change as it is a problem concerning the place we live in. So thanks a lot for your article I found there a lot of new and interesting information.
Take care,