Sepoy-logo
No Result
View All Result
Wednesday, May 31, 2023
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
No Result
View All Result
SEPOY.NET
No Result
View All Result
Home Business

Groups urge US Treasury to assess impact of climate crisis on insurance

Nicholas by Nicholas
December 22, 2022
in Business
0
Groups urge US Treasury to assess impact of climate crisis on insurance

They also urged FIO to begin collecting insurance data on these vulnerable communities, including policies covering renters, consumers dependent on insurers of last resort, and climate-related perils like wildfires and wind that are becoming “increasingly excluded” from standard coverage. Furthermore, they asked that this information be published once properly collected. 

The groups that signed the letter include Public Citizen, Americans for Financial Reform Education Fund, Sierra Club, Greenpeace USA, Hip Hop Caucus, and National Housing Resource Center.

“The insurance industry has spent decades fueling the climate crisis through investments and underwriting,” said Carly Fabian, policy advocate with Public Citizen’s Climate Program. “As the climate crisis intensifies, the industry is forcing the most vulnerable consumers to foot the bill by raising premiums, reducing coverage, and abandoning entire communities.”

Fabian explained that the insurance industry’s “uniquely opaque regulatory system” has left consumers unaware of “discriminatory practices,” as well as its climate change response. With FIO having been created with the authority to collect data from insurers, it should use this data to “highlight a national insurance affordability crisis,” she said.

In addition to the letter, a petition pushing the FIO to collect ZIP Code level data from property and casualty insurers was signed by more than 9,000 individuals.

The petition specifically called for transparency in current and historical underwriting of homeowners’ insurance.

“Access to insurance is essential for me and my community’s financial and emotional security,” the petition said. “If insurance becomes unaffordable or unavailable in my community, this crisis could threaten our homes, life savings, and local economies. My community needs urgent solutions to address this growing crisis.”

Both the letter and petition were penned in response to FIO’s proposal to collect data from insurers in order to evaluate climate risks in the US and inform assessments for potential major disruptions of private insurance.

READ ALSO

CSIO’s INNOTECH Advisory Committee and API Working Groups Continue to Make Headway by Publishing JSON API Standards for Three More Use Cases

Sonnet teams with digital bank to offer group insurance

Tags: climate riskFIOUS Treasury

Related Posts

CSIO’s INNOTECH Advisory Committee and API Working Groups Continue to Make Headway by Publishing JSON API Standards for Three More Use Cases
Business

CSIO’s INNOTECH Advisory Committee and API Working Groups Continue to Make Headway by Publishing JSON API Standards for Three More Use Cases

May 31, 2023
Sonnet teams with digital bank to offer group insurance
Business

Sonnet teams with digital bank to offer group insurance

May 30, 2023
After Alberta election, what’s next for auto insurance?
Business

After Alberta election, what’s next for auto insurance?

May 30, 2023
The state of the cannabis insurance market in 2023 
Business

The state of the cannabis insurance market in 2023 

May 30, 2023
Government announces aid for residents affected by spring flooding
Business

Government announces aid for residents affected by spring flooding

May 30, 2023
RAISE Underwriting appoints industry veteran in Atlantic Canada
Business

RAISE Underwriting appoints industry veteran in Atlantic Canada

May 30, 2023
Next Post
How to trade stocks online in simple steps

How to trade stocks online in simple steps

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Roblox Is Unbreakable Trello Is this safe?

Roblox Is Unbreakable Trello Is this safe?

November 4, 2022
Discord Registered Games  Discord Registered Gaming You need to join the Club

Discord Registered Games Discord Registered Gaming You need to join the Club

November 4, 2022
How To Chose the Right Data Analytics Program

How To Chose the Right Data Analytics Program

November 4, 2022
Chandrashekhar Guruji Wiki, Age, Girlfriend, Wife, Family, Biography & More

Chandrashekhar Guruji Wiki, Age, Girlfriend, Wife, Family, Biography & More

November 4, 2022
Heavy explosion on market square in Halle – three injured

Heavy explosion on market square in Halle – three injured

November 4, 2022

EDITOR'S PICK

Lindner wants to put a three-digit billion sum in the share pension

Lindner wants to put a three-digit billion sum in the share pension

December 6, 2022

BSI boss under criticism: Arne Schönbohm’s fateful relationships

October 10, 2022

First guidance to optimize the use of PROMs for young people with inflammatory arthritis

October 29, 2022
Black Friday 2022 – You can grab these offers without hesitation now

Black Friday 2022 – You can grab these offers without hesitation now

November 22, 2022

About

Sepoy.net is a perfect place for people who want daily updates on news related to business, technology, entertainment, health, cryptocurrency etc.

Contact: [email protected]

Major Categories

News

Business

Tech

Economy

 

Recent Posts

  • Binance is reviewing its organization: the cryptocurrency exchange will lay off part of its workforce
  • Color-changing materials hold promise for diverse scenarios in medical cold supply chains
  • Lush data package for long-term surfers – Monthly terminable 70 GB tariff at a special price of 19.99 euros

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • DMCA
  • Home
  • Privacy Policy

© 2023 Sepoy.net

No Result
View All Result
  • Home
  • Business
  • News
  • Health
  • Tech
  • Science
  • Lifestyle
  • Travel

© 2023 Sepoy.net

x