“What the heck???!!!”
You’ve probably heard the news that Farmers Insurance filed a suit against about 200 Chicago-area municipalities. The suit contends that those municipal governments knew the risk posed by climate change and should have been better prepared.
Farmers Insurance is seeking damages for losses caused to their insureds’ homes by the surge of storm water and sewage overflow due to a 2013 torrential storm. Farmers Insurance contends that because of climate change heavy downpours are happening more frequently and cities should know this and make the proper preparation.
They argue the cities should have increased their storm water capacity. They further argue that steps could have been taken days before the storm to mitigate damage.
Farmers Insurance is a subsidiary of Zurich Insurance Group. Another Zurich subsidiary won a climate related suit in 2012.
Some combine the logic of the two suits to indicate a Zurich strategy to…
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