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Climate liability is on the rise. Here's what it looks like
By Jennifer Hijazi
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From insurance claims to adaptation concerns to fiduciary duty violations, companies and federal agencies could be on the hook for climate change's consequences, beyond the nuisance and constitutional claims already raised in high-profile litigation.
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Jason Reeves, who represents clients in the insurance industry at the law firm Zelle LLP, said the market for his presentations on climate change for insurers is booming.
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"Insurers should be aware that climate change claims and suits threaten industries and businesses other than the obvious low hanging fruit oil and gas companies," he wrote. "Any industry linked to hydrocarbons and greenhouse gas emissions may be at risk: transport; manufacturing; agri-business; and finance.
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Attribution science, which links human-caused climate change to the severity of extreme weather events, is a field Reeves said could eventually help move these claims along to payout. He used the example of property insurers who handle high-value portfolios of properties that could be damaged by catastrophic weather.
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