ourinsuranceworld.com
  • Business Insurance
    • General Liability Insurance
    • Professional Liability Insurance
    • Small Business Insurance
    • Workers Compensation Insurance
  • Car Insurance
    • RV Insurance
  • Health insurance
    • Dental Insurance
  • Holiday Insurance
  • Home Insurance
    • Condo Insurance
    • Flood Insurance
    • Homeowners Insurance
    • Pet Insurance
    • Renters Insurance
    • Umbrella Insurance
  • Travel Insurance
  • News
No Result
View All Result
  • Business Insurance
    • General Liability Insurance
    • Professional Liability Insurance
    • Small Business Insurance
    • Workers Compensation Insurance
  • Car Insurance
    • RV Insurance
  • Health insurance
    • Dental Insurance
  • Holiday Insurance
  • Home Insurance
    • Condo Insurance
    • Flood Insurance
    • Homeowners Insurance
    • Pet Insurance
    • Renters Insurance
    • Umbrella Insurance
  • Travel Insurance
  • News
No Result
View All Result
ourinsuranceworld.com
No Result
View All Result
ADVERTISEMENT

Climate Change Drives Insurance Costs

Shine by Shine
07/06/2024
in News
blank
ADVERTISEMENT

Evan Greenberg, CEO of Chubb, highlighted the significant impact of climate change on insurance pricing during an interview with CNBC’s Jim Cramer on Thursday. Greenberg pointed to the increased volatility driven by climate change, which he noted is continually evolving.

“Climate change has created tremendous volatility, and it continues to evolve,” Greenberg said. “The concentrations of values in areas where the impact of the climate is greatest continue to increase.”

ADVERTISEMENT

Chubb, renowned for insuring businesses and affluent individuals, also plays a significant role in agricultural insurance. Greenberg stated that 60% of Chubb’s operations are based in the U.S., with the remaining 40% spread internationally. He identified North America and Asia as Chubb’s “two biggest regions,” citing their substantial potential for broad economic growth.

ADVERTISEMENT

Additionally, Greenberg pointed to general inflation and rising litigation costs as key factors driving up insurance prices. He described litigation as a “money-making industry” that continually develops new theories of liability, ultimately burdening corporate America and consumers with increased costs.

ADVERTISEMENT

“We intermediate money; we don’t produce money,” he explained. “Reflecting loss cost—when you think general inflation, climate change, litigation—that is driving the pricing of insurance.”

Chubb’s stock saw a significant boost in mid-May after Warren Buffett revealed that the company was Berkshire Hathaway’s secret stock pick. As of Wednesday’s close, Chubb shares had risen 16.7% year-to-date.

In March, Chubb provided former President Donald Trump with a $91.6 million appeal bond after he was found liable for defaming writer E. Jean Carroll, who accused him of rape. However, shortly after, Chubb withdrew from discussions to provide Trump with a $464 million appeal bond in his civil fraud case.

[inline_related_posts title=”You Might Be Interested In” title_align=”left” style=”list” number=”6″ align=”none” ids=”2295,2338,2333″ by=”categories” orderby=”rand” order=”DESC” hide_thumb=”no” thumb_right=”no” views=”no” date=”yes” grid_columns=”2″ post_type=”” tax=””]

ADVERTISEMENT
Previous Post

Senate Committee Divides on Causes of Homeowners Insurance Crisis

Next Post

Gallagher Specialty Launches Carbon Insurance Solutions

Shine

Shine

Shine is a dedicated and experienced insurance consultant, committed to helping clients navigate the complexities of insurance with ease and confidence. With a deep understanding of the industry, Shine provides personalized advice and tailored solutions that meet each client's unique needs. Whether you're looking for the best health, life, or property insurance, Shine's expertise and client-focused approach ensure that you get the optimal coverage at the most competitive rates. Trust Shine to safeguard your future with reliable and comprehensive insurance solutions.

Related Posts

OPTIS: Insurance M&A Falls 10%
News

OPTIS: Insurance M&A Falls 10%

26/11/2024
Marsh: US Rates Up 3%
News

Marsh: US Rates Up 3%

26/11/2024
Progressive Ends Fire Insurance
News

Progressive Ends Fire Insurance

26/11/2024
Zurich Insurance Sets New Goals
News

Zurich Insurance Sets New Goals

26/11/2024
4th Circuit: No Crypto Coverage
News

4th Circuit: No Crypto Coverage

26/11/2024
Safeco Buys Main Street
News

Safeco Buys Main Street

26/11/2024
Next Post
blank

Gallagher Specialty Launches Carbon Insurance Solutions

blank

Former Insurance Broker Jailed For Defrauding Clients Of E46,000

blank

Alliant Insurance Services Acquires Health Market Solutions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tags

Accidental Insurance Annual Travel Insurance barclays travel insurance campervan insurance cat insurance Commercial Property Insurance covid holiday insurance Credit Card Travel Insurance dog insurance dual Health Insurance full time rv insurance international health insurance jet2 holiday insurance landlord insurance Liability Car Insurance Malpractice Insurance Medical Travel Insurance military dental insurance natwest travel insurance nursing home insurance Personal Liability Insurance Personal Property Insurance Private Dental Insurance private flood insurance Private Health Insurance Progressive Rv Insurance Property Insurance Public Liability Insurance Rental Car Insurance Rental Property Insurance rv travel insurance ryanair travel insurance secondary dental insurance short term Health Insurance supplemental dental insurance third party liability pet insurance trailer insurance

Recent Posts

How Much Auto Insurance Coverage Should I Have?
Car Insurance

How Much Auto Insurance Coverage Should I Have?

by Steven
20/01/2025

Auto insurance is a vital aspect of vehicle ownership, providing financial protection in the event of accidents, theft, or damage....

What Are The Different Types Of Coverage For Auto Insurance?

What Are The Different Types Of Coverage For Auto Insurance?

20/01/2025
What Are Liability Limits on Auto Insurance

What Are Liability Limits on Auto Insurance

20/01/2025
What Is Liability Premium in Car Insurance

What Is Liability Premium in Car Insurance

20/01/2025
What Type Of Cover Is Best For Car Insurance?

What Type Of Cover Is Best For Car Insurance?

20/01/2025
What Type Of Insurance Coverages Are Available For Your Car?

What Type Of Insurance Coverages Are Available For Your Car?

20/01/2025

Popular articles

Do I Need Workers Compensation for Subcontractors

Do I Need Workers Compensation for Subcontractors

08/01/2025
What to Do When You Can’t Afford Health Insurance

What to Do When You Can’t Afford Health Insurance

31/12/2024
What Is Sedgwick’s Role in the Workers’ Compensation Field?

What Is Sedgwick’s Role in the Workers’ Compensation Field?

26/12/2024
What Is Property Insurance in Home Loan

What Is Property Insurance in Home Loan

15/01/2025
What Are Types of Car Insurance

What Are Types of Car Insurance

16/01/2025
What Does Malpractice Insurance Cover for Nurses

What Does Malpractice Insurance Cover for Nurses

15/01/2025
ourinsuranceworld.com

Welcome to ourinsuranceworld ! We’re committed to offering personalized coverage that secures your future. With a focus on reliability and customer care, we strive to be your trusted partner in navigating life’s uncertainties.

Recent Posts

  • How Much Auto Insurance Coverage Should I Have? 20/01/2025
  • What Are The Different Types Of Coverage For Auto Insurance? 20/01/2025
  • What Are Liability Limits on Auto Insurance 20/01/2025
  • What Is Liability Premium in Car Insurance 20/01/2025
  • What Type Of Cover Is Best For Car Insurance? 20/01/2025

TAGS

Accidental Insurance Annual Travel Insurance barclays travel insurance campervan insurance cat insurance cigna Health Insurance cobra Health Insurance Commercial Property Insurance covid holiday insurance Credit Card Travel Insurance dog insurance dual Health Insurance full time rv insurance international health insurance jet2 holiday insurance

Useful Links

about us

disclaimer

privacy policy

Copyright © 2024 ourinsuranceworld.com

No Result
View All Result
  • Home
  • Business Insurance
  • Car Insurance
  • Home Insurance
  • News

Copyright © 2024 Welcome to ourinsuranceworld ! We’re committed to offering personalized coverage that secures your future. With a focus on reliability and customer care, we strive to be your trusted partner in navigating life’s uncertainties.