Should private companies and their insurers be held accountable for the effects of climate change? That is the critical question being raised in court by a growing number of litigants, potentially creating new risks and opportunities for carriers, one major reinsurer and an environmental attorney warn.

For now, the courts have been reluctant to step into the fray on this controversy. In one decision detailed below, still on appeal, a federal district judge declared the courts do not have jurisdiction to impose their will in what is essentially a political issue.

However, according to a report issued recently by Zurich, Switzerland-based insurer Swiss Re, the drivers of global litigation spurred on by the success of the U.S. class-action model could eventually mean private companies will be held liable for their contribution to greenhouse gases that are considered the major driver of climate change.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.