As the East Coast and large swaths of the Midwest continue to climb out of the 1,000-mile wide path of destruction left behind by this week’s megastorm Sandy, which killed more than 80 people in the U.S. and resulted in what will certainly be tens of billions of dollars in damages, the industry whose business it is to absorb those losses is back in the spotlight. And many critics are suggesting that U.S. insurance companies, along with the people and businesses they insure, are failing to take seriously the risks of climate change — a problem that could threaten the wider economy.

Industry representatives suggest such scolding is misplaced.

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