Report: U.S. insurers must move faster on climate change

04/5/2009 | NYTimes.com

A new report commissioned by Ceres finds U.S. insurers are moving to address the challenges climate change poses for the industry, but they're not moving quickly enough. There are more than 640 insurance products on the U.S. market covering climate-change-related risks, double the number on offer two years ago. Yet researchers say European insurers are far ahead of their U.S. counterparts. "I see this ... as the early stage of the industry coming to terms with the risks and opportunities of climate change," said Reinsurance Association of America President Frank Nutter. "I think Europeans continue to be more thoughtful about climate change."

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