Insurance, Politics & Climate Change

Part 2


Table of Contents


Chapter 5: Climate Change Affects Insurance Companies & Policyholders

170

The Lawsuits Continue to Rise in Numbers

170

Hey Dude, it is still Just Weather!

171

Fact #1

171

Fact #2-#8

172

Fact #9-#12

173

Federal Policies on Climate Change Between 2017and 2020

174

An Ever-Growing Wave of Lawsuits Hels the Insurance Industry

179

City of Los Angeles v. National Highway Traffic Safety Administration

180

Will Litigation be the Savior of the Insurance Industry?

182

Wind Insurance in Wind Pool Areas

184

What Defines a Windstorm

184

Windstorm Insurance Deductibles in Florida

185

Insurer Risk Knowledge & Management

186

FEMA manages premiums collected by NFIP

186

Assessing Risk & Avoiding Losses

191

Political & legal roadblocks

193

Life & Health Insurance Will be Affected

197

Changing Landscape Affects Health Issues & Health Insurance

198

Chapter 6: Insurers Have Limited Abilities

200

Persuasion Through Premium Rates

200

Insurance penetration rates

202

MCII

202

LEED

205

California continues to rank the highest in economic losses

208

Department of Commerce Estimations

209

NFIP: What is the Message for Taxpayers?

211

Flood Insurance Program is a fee-for-service

212

National Flood Insurance Program (NFIP)

214

1. Premium Increases & Surcharges

214

Pre-FIRM Subsidized Policies

215

Other Subsidized Policies

216

V Zones

216

A Zones

216

X Zones

216

Miscellaneous

216

Changes to Become Effective 1/1/19

216

2. Policy Reformation for Use of Incorrect Standard Flood Ins Policy Form

217

3. Premium Receipt Date for Guidance for Invalid Payments

217

4. Primary Residence Determination

218

5. Clarification of Increased Cost of Compliance Premium

218

6. HFIAA Section 28, Clean Communication of Risk

218

7. Datum Conversion

218

8. Updated Claims Data Elements

219


United Insurance Educators, Inc.

Insurance, Politics & Climate Change

Part 2


Europe Ahead of America in the Reality Category

219

Insurers & reinsurers are important to world economy

220

Litigation Risk Due to Both Actions & Inactions Related to Climate Change

221

Physical Risks

225

Transition Risks

225

Liability Risks

226

Driving Factors

226

Insurer Risk is Increasing

226

Insurance Categories

227

Business Interruption Losses & Insurance

229

Food Safety & Insurance

229

Global Security Also Impacted

229

General Insurance & Liability Affected

230

It is All in the Math

230

Insurance Company Wake-Up Calls

231

Insurers Invest Too

231

Dealing with Transition Risks

232

Liability Risks

233

Claims-made policies

234

The black swan theory

235

Professional Indemnity

236

Making Assessments

237

As Always, Opinions Vary

238

Tipping Events

241

International Collaborations & Finance: Premium Rise as Claims Rise

242

Developing New Insurance Products

243

Insurance Impacts from Global Warming

243

Life Insurance

243

Health Insurance

244

Insurers Recognized It First (Along with Scientists of course)

248

Concepts of Insurability

250

Chapter 7: The Ethics of Climate Change

253

Climate Change: An Ethical Issue

253

The Poorest of the Poor

254

Predicting & Coping

256

New Technology & the Hope that it Will Heal

257

Power

259

Transport Technology

259

Funding Ethically Instead of Politically

259

What’s in a Name?

261

Three primary issues that relate to climate change

262

Example

267

Philosophies consider self-interest

268

IPPC report

269

Ethical duties require developed countries

270

Climate Change: A Moral Issue

275

Social discount rate (SDR)

284

United Insurance Educators, Inc.

Insurance, Politics & Climate Change

Part 2


Change Starts at the Top

287

Giving the Subject Legitimacy

287

Making Global Warming Personally Relevant

288

Making Ethical Choices for our World

289

Regulatory & Political Risks

290

From a Practical Standpoint

295

Choosing Ethical Conduct

295

Ethics Beyond Philosophers

296

Being Ethically Responsible is Hard Work

297

Responsibility to Others

298

A Legal Liability

300

Morality is the shift

301

Free Choice

302

Plato

303

Egoism

304

Objectivist Theory

305

Ethics Mean Independent Analysis

306

Ethical Conduct Varies

308

Moral Persuasion

309

Rationalizing Morals

310


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