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California Joins UN In Project To Create Climate Change Insurance

Keith Menconi
July 25, 2019 - 11:11 am
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California is teaming up with the United Nations to fight the effects of climate change by hoping to spur insurance companies to start covering important natural features like marshes and reefs.

This week, California kicked off a year-long project with the U.N., which already has some working experience with so-called sustainable insurance. 

Among the goals will be helping the state’s insurance industry identify what natural features are most at risk from climate change and finding new ways to insure them. 

 “It’s kind of a way of being proactive to helping us mitigate against potential loss of critical natural infrastructure,” California Insurance Commissioner Ricardo Lara told KCBS Radio.

Lara points to the marshes, which do a great job of absorbing flood waters, but are at risk themselves of natural disasters as well. 

“Let’s take out a policy to protect these marshes to make sure we re-forest these marshes so that when the next storm hits, we’re better protected, our property is better protected,” he said.