Insurance Coverage in a Global Warming Litigation Tsunami

DATE: Tuesday, September 13, 2022

TIME: 11:00 AM - 12:00 PM

VENUE: Halifax Convention Center, 1650 Argyle Street, Halifax, NS B3J 0E6

ORGANIZER: 2022 RIMS Canada Conference

Political passions aside, global warming looms large in the thinking of those for whom analyzing risk is a business imperative. Swiss Re has forecast that liability stemming from climate change will outstrip asbestos liability. While suits against businesses and municipalities seeking damages for their contributions to global warming have thus far mostly been dismissed, Swiss Re anticipates that within just two years, "the frequency and sustainability of climate change-related litigation could become a significant issue." Businesses faced with such litigation should seek insurance protection against potentially enormous liabilities. They should be prepared to move quickly to provide notice of an occurrence as soon as it seems reasonably likely that insurance may be involved --- and to demand a defense when a suit is filed. This session will provide practical tips as to the types of insurance policies likely to respond to global warming liability; how to pursue coverage effectively when faced with claims; and problems likely to be triggered by a potential tidal wave of claimed damages if and when these suits get traction.

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