Report: Spending on weather-related damages shifts from insurers to feds

06/11/2013 | MotherEarthNews.com

More of the financial responsibility for damages related to climate change is shifting from private insurers to the federal government, which in 2012 paid almost $100 billion of the $139 billion in damages caused by weather-related disasters, according to a report by the Natural Resources Defense Council. "The fact that private insurers are leaving the table sends an unmistakable signal. It tells us that climate change risks are increasing and their costs to our society are climbing," said Tom Steyer, a clean energy activist.

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