Insurance, limited liability and climate change

The insurance sector has been one of the first business sectors to address the business challenge of climate change–obviously because the risks presented by climate change are direct and material to the sector. Here is a fine paper from UCLA and Standford on the issue. It focuses on limited liability risks to insurance providers, but, in doing so, lays out a comprehensive view of the impact of climate change for business generally.

This article explores three major dimensions: sources of legal liability related to climate change, and their links to insurance and law; new liabilities associated with the emerging technological responses to climate-change; and ways in which those in the insurance industry can manage the risks related to climate change for their own companies and for their customers.

Highly recommended.

Paper can be downloaded here.

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