by Joel N. Gordes and Jeremy Leggett1
The American insurance industry could lose billions of dollars from weather disasters related to climate change. "Electrofinance" represents an innovative consumer product that profit-minded insurers could offer; it would bundle electricity, a retirement annuity, energy efficiency and renewable energy. By selling electrofinance, insurers can take modest, but important, initial steps in helping to control carbon emissions, and thereby prevent climate change.