BANGOR DAILY NEWS • June 19, 2023
There’s a new sign that our changing climate is causing unprecedented risks: Insurance companies are refusing to issue new policies in states that have been hard hit by extreme weather, including wildfires and hurricanes, both of which scientists say are becoming worse as the planet warms. The president of one of the world’s largest insurance brokers told members of the U.S. Senate committee that climate change and its consequences were destabilizing the insurance market and would continue to push companies out of high-risk markets. If the risks of climate change were not clear, the insurance industry is now ringing additional alarm bells by indicating that the growing losses may soon be too big to withstand.