As catastrophic wildfires spur insurance companies to raise homeowner premiums and drop thousands of policyholders across California, the industry has blamed climate change for fueling the blazes.

Yet even as insurers sound the alarm about a warming planet, they continue to invest billions of dollars in the oil and gas sector, which scientists identify as the main driver of rising global temperatures as burning fossil fuels releases heat-trapping carbon gases into the atmosphere.

In recent years, lawmakers, environmentalists, consumer advocates and California’s former top insurance regulator have pressed insurers to divest from fossil fuel companies and phase out writing coverage for oil wells, coal mines and other extraction projects. They argue doing so is critical to accelerate a tran

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