Much milder but potentially significant has been Allstate's position. However, the Intergovernmental Panel on Climate Change reported that there is a discernible human influence on the climate change being observed. In light of this, Allstate continues to explore and analyze credible scientific evidence, including, but not limited to, the impact of climate change, that may affect Allstate's potential exposure under its insurance policies. 13 In general, though, most observers concede that the U.S. property-casualty insurance industry has been far more reticent and noncommittal on the subject of climate change. There is less agreement as to why this should be so.
European firms have more exposure to global losses.
Europe does not suffer from a massive misinformation campaign on climate change by fossil fuel, automobile, and other special interest groups. U.S. companies have a greater fear of future litigation. U.S. companies do not wish to frighten away customers and stockholders. Many U.S. property-casualty insurers also sell auto insurance, which might suffer from any climate change treaty emission limitations. Insurance company directors may also serve on boards of fossil fuel or auto companies, and many insurers have extensive investments in fuel, auto, and utility companies.