InnSure to fund climate risk insurance innovators
NEW YORK and BOSTON, April 25, 2023 /PRNewswire/ -- InnSure, a mission-driven nonprofit dedicated to harnessing the power of the insurance industry to combat climate change will work with the New York State Energy Research and Development Authority (NYSERDA) to co-develop a program that will competitively award insurance innovators for the research and development of new insurance policies and products. The Insurance Innovation for Climate-Technology Solutions program, will advance risk management and insurance market growth and initiatives that will transform business support and provide consumer confidence for a range of climate-friendly technology products.
- "The insurance industry has a crucial role to play in tackling climate change, and we are excited to further InnSure's mission of catalyzing a bold insurance industry response to climate change with the support of NYSERDA," said Charlie Sidoti, InnSure Executive Director.
- NYSERDA President and CEO Doreen M. Harris said, "NYSERDA is excited to work with InnSure to provide transformational insurance coverage for companies advancing technologies to fight climate change.
- As industries look to transition to a low-carbon economy and more businesses become planet-friendly, insurance products that account for climate risk are all the more important.
- "The awarded funding will help improve access to data and revolutionize insurance coverage for climate tech businesses and consumers to ensure that the insurance sector keeps pace with new technologies."