'AIG To Curb Home Insurance Policies Owing To Climate Risks; AIG Cutbacks To Be In About 200 Flood- And Fire-Prone Areas; AIG Policies For Affluent Customers Would Be Affected In New York, Colorado And Other States, Sources Say' - WSJ
Portfolio Pulse from Happy Mohamed
AIG plans to reduce home insurance policies in around 200 flood- and fire-prone areas due to climate risks. Affluent customers in New York, Colorado, and other states will be affected.
June 08, 2023 | 3:05 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
AIG is reducing home insurance policies in 200 high-risk areas due to climate risks, affecting affluent customers in New York, Colorado, and other states.
AIG's decision to reduce home insurance policies in high-risk areas may lead to a decrease in revenue from these policies. Affluent customers, who typically have higher premiums, will be affected, potentially impacting AIG's profitability. This decision may also affect AIG's reputation and public perception, as it highlights the company's response to climate risks.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100