Financials

US insurers urged to take climate action amid impact on coverage

California house fire
The study by ERM, Persefoni and Ceres says that the US is the most vulnerable country in the world to severe, weather-related property destruction (Photo: Jeff Chiu/AP Photo)

New research reveals that US insurers held $536bn in assets linked to fossil fuels in 2019 – even though some have blamed climate change for increasing premiums and reduced coverage.

The US top 16 insurers owned half of fossil fuel-related assets held by insurers in 2019,

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