Insurance Industry, Republicans Split on Climate Change
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The U.S. insurance industry told Senators that a surge in weather-related catastrophes has forced billions of dollars in payouts, offering an assessment at odds with Republicans who have expressed doubt about global warming.
The Reinsurance Association of America, which represents companies such as Swiss Re Ltd. and Munich Re, today urged Congress to have federal agencies consider climate risk in project reviews, and offer tax incentives to help homeowners prepare for severe hurricanes, floods, droughts and fires.