Insurers Brace for Stormy Weather as the World Warms (HuffPost Business)
March 2, 2012
By Mindy S. Lubber
“Everyone talks about the weather, but no one does anything about it,” said Mark Twain.
Now that we understand the link between Earth’s changing climate and the severe weather, that’s no longer true. Individuals, companies, and countries are working to curb emissions that are warming the world and amplifying weather extremes.
On Capitol Hill yesterday, major re-insurers — companies that insure insurance companies, thereby making make it possible for families and communities to recover from natural disasters — drew a grim picture of increasing floods, droughts, severe storms and other weather disasters. Invited by a group of senators advocating responsible action, the insurance leaders called for our country that has long led the world in producing greenhouse gases to take the lead in tackling climate change. The insurers joined Sens. Bernie Sanders (I-Vt.) and Sheldon Whitehouse (D-R.I.) at a press conference to discuss the mounting financial impact of global warming.
“Perhaps no industry better understands the impact of global warming than the insurance industry whose job it is to analyze risk,” Sanders said. “I am pleased leaders in that industry are speaking out about the need to reverse global warming.”
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