Posted on 05/18/2014 5:12:07 PM PDT by Oldeconomybuyer
... For insurers, it’s not about the political machinations but rather, it’s about the potential economic losses. If even part of the predictions hold — the ones released by the Intergovernmental Panel On Climate Change that ascribe temperature change to humans with 95 percent certainty — then the rate of extreme weather events will only increase and the effects would be more severe. That, in turn, would lead to greater damages and more payouts.
Meantime, Standard & Poor’s Ratings Services just issued a report saying that the credit ratings of sovereign countries would be affected by global warming. It pointed to Typhoon Haiyan in the Philippines, heavy flooding in Great Britain and the record cold temperatures this past winter in the United States, all of which caused economic damages and disrupted business practices.
When it comes to a fix, the public sector will lead — but only when pushed by its citizenry or powerful financial concerns. Here, a potential battle is brewing between certain energy entities and the insurance industry that would pay many climate-related claims. Just who wins will depend on how severe the weather becomes and the financial toll it leaves behind.
(Excerpt) Read more at forbes.com ...
Glad you saw it before the mod zapped my comment. (meant to cc you on the other).
Not sure if it was my trash-talking Costco or linking to the Amazon reviews...
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