Climate-Related Disaster Coming Your Way? Your Insurance Could Bail

When it comes to grappling with the effects of climate change, insurance companies could be on the verge of failing the very people they're meant to protect. According to a new report from Ceres, a sustainability-minded business nonprofit, the insurance industry has been relying on deflating financial reserves while being struck with record catastrophe damages—last year, the United States suffered an estimated $55 billion economic loss due to severe weather damages alone, and the...