forcing Insurance Companies To Offer Coverage –Most Important Climate News 6/11/2024

Madison Inouye Pexels

Tests of solar planes have become more promising in the last several months. According to The Wall Street Journal, a company in Mississippi conducted advanced test flights this week. The solar-powered Skydweller will be available for sale next year. These aircraft may not be able to carry people yet, but they will be useful for some cargo. Climatecrisis247 believes that solar technology is advanced enough now that commercial solar aircraft could be widely available by the end of the decades. Gas-powered jets are among the most polluting vehicles in the world. Aviation has caused about 4% of all global warming. 

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The Global Defence Fund believes that by reflecting sunlight back into space. According to The New York Times, “The group will fund what is sometimes called solar radiation modification, or solar geoengineering, which involves reflecting more of the sun’s energy back into space. Possible techniques involve injecting aerosols into the stratosphere, or brightening clouds to make them more reflective.” Climatecrisis247 believes this is not scalable, particularly because of its huge cost. The process would need to be deployed widely geographically and have the support of a large number of governments. 

11 Billion Dollar Climate Disasters

According to NOAA, there have been 11 disasters, each of which cost over $1 billion in losses so far this year. Most were thunderstorms, hail, or tornadoes. The agency reports, “These disasters consisted of nine severe storm events and two winter storms. The total cost of these events exceeds $25 billion, and they have resulted in at least 84 fatalities.” Climatecisis247 believes that this is not only expected but will worsen this year. Hurricane season could be the worst on record because of a warming Atlantic Ocean. Wildfire season is about to begin. 

Forcing Insurance Companies To Cover Weather Disasters

A new New York state legislature bill would force insurance companies to stop funding fossil fuel activity and stop the industry’s practice of withdrawing services from areas regularly hit by storms. New York Focus reports  Brad Hoylman-Sigal, the bill’s Senate sponsor, commented, “Insurance is a very powerful cudgel,” said Brad Hoylman-Sigal, the bill’s Senate sponsor. “If we don’t do this at the state level, I don’t think we’re going to see it happen anywhere else.” Climatecrisis247 believes powerful insurance interests will try to block bills of this kind. Additionally, for these laws to have much effect, similar ones would need to be passed in states where the practice of withdrawing coverage is widespread, the most obvious of which is Florida.

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