Delaware Business Insurance Update From CNC Insurance, "Insurance Companies Want Their Pound Of a Flesh from Climate Change" 5-23-14
I was reading a national news story about Farmers insurance company filing a law suit against certain towns in Illinois. The reason behind the suit is the reimbursement of insurance claims paid out due to the towns not being prepared for man made climate change. This is a really interesting case and the whole country should follow this to see how it comes out. The reason this is an important case is the business and politics of man made climate change could be turned on its ear by the insurance industry. If towns and cities are forced to pay back insurers because they did not implement protections from climate change then you might start hearing a different tune about man's affect,on the weather. Another way to put this is, the insurance industry is going to test the theory of man made climate change in courts. Stay tuned to this one folks. Until next time be careful out there and know your risks. G. Kevin Nemith President CNC Insurance and the Small Business Insurance Center