States should require insurance companies to pay more to harden communities against damage from extreme weather, a new report by a prominent environmental group says.
A Natural Resources Defense Council paper Tuesday chides state governments for being too passive in the face of extreme weather events that are causing increased damage to homes and businesses and making property insurance more expensive and scarce.
NRDC calls on states to launch ambitious new resilience efforts — and ensure that some of the money “rightfully” comes from insurance companies, which will benefit financially through reduced claims.
“We wondered, what could states do to incentivize resilience?” Alfonso Pating, a global finance regulation analyst with NRDC, said in a teleconference.
