The United States will not be able to insure its way out of coming climate disasters, but must focus on mitigation and resiliency – along with insurer solvency — to reduce risk and exposure, insurance regulators said Wednesday.
Insurance commissioners from around the country joined a virtual meeting, dubbed, “How are U.S. insurance regulators taking action on climate change risks,” held as part of the United Nations’ Climate Change Conference, now under way in Scotland. The commissioners offered few tangible regulatory changes but said that a number of initiatives are under way at the national, state and local levels.
