Climate Change Causes Insurers to Rethink Price of Risk After Hurricane Sandy

Climate Change Causes Insurers to Rethink Price of Risk After Hurricane Sandy

By PBS NewsHour
Unabridged
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The insurance industry looks at historical data, old and new, in order to assess the risk for potential disasters and put a price on premiums. But when Sandy hit the Northeast, some insurance companies reconsidered if they priced insurance high enough for the greater risks brought on by climate change. Paul Solman reports.