Off the news: Oil companies safe from insurers, for now
Big Oil can rest easy knowing that Hawaii insurers will not immediately seek damages for the industry’s role in climate change-related disasters — assuming it was on its mind at all. Senate Bill 1166, which stalled Friday, would have placed the onus of high insurance premiums on fossil fuel companies by enabling insurers to sue over climate harm, and pass on any proceeds to consumers via lower rates.
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