Climate Change and Your Insurance
What’s the connection?
Increases in hurricanes, wildfires and floods have been attributed to climate change. And all of these events have damaged and destroyed peoples’ homes, cars and other belongings – leading to more insurance claims.
The result? In some areas of the country, some insurance companies have stopped offering coverage, and those that do offer coverage often limit what they cover. It’s also meant higher insurance premiums that many people cannot afford, leaving them uninsured or underinsured.
The Commissioner doesn’t want to see that happen in Washington. He believes we must take action today to make sure that we are protected in the future.
Actions to date
In 2007, Commissioner Kreidler testified before the U.S. House of Representatives to discuss the issue and to push for proactive solutions. Read his testimony.
Throughout the year, he also served on the Governor’s Climate Advisory Team to determine how to meet the state’s goals on greenhouse-gas reduction and green jobs. The team did extensive research on the issue and met with people across the state. Its recommendations went to the Governor in February. The Commissioner will continue to serve on the team as it works to implement those recommendations.
In 2006-2007, the Commissioner served as the co-chair of the National Association of Insurance Commissioners’ Climate Change and Global Warming Executive Task Force that examined the link between climate change and insurance on a national level. The task force is developing a report on the issue. He continues to serve on the task force.
In 2006, Commissioner Kreidler convened a summit of government, business and insurance representatives to explore the issue and discuss related initiatives. Learn more about the climate change summit.
Other resources
Climate Change: Economic Impacts on Washington Study
Department of Community, Trade & Economic Development
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