GAO Report: Climate Change: Significant Financial Risk to Fed.& Private Insurers

Taken together, private and federal insurers paid more than $320 billion in
claims on weather-related losses from 1980 to 2005. Claims varied
significantly from year to year—largely due to the effects of catastrophic
weather events such as hurricanes and droughts—but have generally
increased during this period. The growth in population in hazard-prone areas
and resulting real estate development have generally increased liabilities for
insurers, and have helped to explain the increase in losses. Due to these and
other factors, federal insurers’ exposure has grown substantially.
Report