The Senate Budget Committee’s 20th hearing connecting climate change to global economic calamity will focus on the warming planet’s effects on insurance markets.
The Wednesday meeting — titled “Riskier Business: How Climate Is Already Challenging Insurance Markets” — could also provide new fodder for three committee investigations into how insurance companies are struggling to serve the needs of customers in parts of the country that are increasingly vulnerable to extreme weather events.
The hearing could even be a chance for Budget Chair Sheldon Whitehouse (D-R.I.) to share new findings from the ongoing probes.
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The subject of one inquiry, launched in November, is Citizens Property Insurance, Florida’s state-run insurance provider.
