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Scientists have built consensus around the probability that more powerful floods, fires, droughts and storms will occur with higher frequency as the Earth gets hotter.

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Expect a sharp rise in climate change lawsuits against companies and their executive in the coming year, according to Clyde & Co. LLP. (Credit: 24Novembers/Shutterstock.com) Expect a sharp rise in climate change lawsuits against companies and their executive in the coming year, according to Clyde & Co. LLP. (Credit: 24Novembers/Shutterstock.com)

Climate change will create a forked path for insurers in 2021.

On one side, U.S. regulators are expected to increase scrutiny of insurers’ disclosures regarding, and efforts to manage, the potential risk from climate change. Down the other route, regulators are likely to increasingly facilitate the development of innovative products that work to mitigate exposure to climate change risks for prospective insureds, according to Clyde & Co. LLP.

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Steve Hallo

Steve Hallo is an assistant editor with PC360 Group. Prior to his current position, Steve spent nearly a decade covering retail transformation, consumer trends, manufacturing issues and supply chain challenges impacting global CPG markets. He can be reached at [email protected], and on LinkedIn and Twitter.  

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