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Top insurer urges US to stop subsidising climate-risk homes

2016-05-25 11:12:00| Climate Ark Climate Change & Global Warming Newsfeed

Climate Home: Lloyds, one of the worlds biggest insurance companies, says the US government must stop providing insurance subsidies to homeowners building on flood plains and in coastal areas exposed to mounting risks related to climate change. According to a report in Londons Financial Times, Lloyds says the US governments National Flood Insurance Program (NFIP), which subsidises insurance cover for householders in regions vulnerable to floods and storms, encourages irresponsible house building. Lloyds...

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