Insurance industry may be confronted with rising sea levels

Discussion in 'Environment' started by Trakar, Jun 27, 2012.

  1. Trakar
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    Trakar VIP Member

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    Insurance industry may be confronted with rising sea levels - Insurance industry may be confronted with rising sea levels

    It must be divine irony, I truely despise the US Insurance industry, it rankles me that they may indeed become one of the main US industries to begin strongly pushing for effective climate change policies. So sad, but this issue is bigger than my dislike of the way they choose to turn profits.
     
  2. Old Rocks
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    Munich Re - Climate Change

    Climate change is a subject that concerns us all.It is one of the greatest risks facing mankind. In recent years, Munich Re has actively supported and advanced climate protection and adaptation to global warming
     
  3. Old Rocks
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    Old Rocks Diamond Member

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    Climate change discussions heat up | Swiss Re - Leading Global Reinsurer

    The event, aimed at reinvigorating conversations on climate change among US policy-makers, was also attended by the President of the Reinsurance Association of America (RAA), the Chief Risk Officer of Willis Re, and the insurance industry director of Ceres, a non-profit organization that leads a national coalition of investors, environmental organizations and other public interest groups to address sustainability challenges such as global climate change.

    The senators recognized the crucial role the insurance industry has to play in the ongoing debate around climate change. Senator Sanders stated: "It is extremely important that we have the scientific community documenting the impact of global warming but it is equally important we have people in the business community who are also speaking out about the risks associated with global warming. Perhaps no industry better understands the impact of global warming than the insurance industry whose job it is to analyze risk."

    In Mark's address he highlighted the need for an international agreement on carbon emissions reductions which in turn requires a strong commitment from the US Congress for such an agreement to be reached. He also spoke about the need to increase the resiliency of society to weather related risks.

    "Society is simply too vulnerable to weather impacts as we saw so clearly in the unprecedented flooding, tornado and drought events that occurred in states such as Vermont, Rhode Island, New York, Missouri and Texas last year."
     
  4. Matthew
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    Matthew Blue dog all the way!

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    [​IMG]
     
  5. bobgnote
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    bobgnote BANNED

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    Here we go, Bears:

    Insurance and reinsurance in a changing climate

    Most insurers, particularly American ones, have been reluctant until recently to link their own business to the risks of climate change. Climate activists recognized in the early 1990s that the insurance sector would be significantly affected by natural disasters and should have an interest in preventing climate change. It has taken time, but insurers are finally recognizing the potential threat to their business posed by changing weather patterns. They have been prodded to act by a series of extreme weather events, increasing scientific evidence, targeting by climate change activists, changes in government policy, and by the early acceptance by major international reinsurers of the need to act.
     
  6. Trakar
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    Trakar VIP Member

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    Sorry, daily life interruptus.

    An article I ran across this morning demanded to be mentioned in this thread:

    "Insurers Get New Weapon For Global Warming Coverage Rows"

    more eel than shark, IMO.
     
  7. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny wonderin' what dey gonna do when alla Australia under water?...
    :confused:
    Rising seas create crisis for Australia’s beachfront
    Mon, Jul 23, 2012 - When Elaine Pearce left Sydney for the seaside peace of Old Bar 12 years ago she was assured her new house was a solid investment, with a century’s worth of frontage to guard against erosion.
     
  8. Trakar
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    Trakar VIP Member

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    It may well be only a matter of time, now, before property insurance as we have grown used to it over the last century, is no longer a viable industry. This will have economic ripples across the board.

    Could Climate Change End Property Insurance? | Earthtechling

    This will make mortgages riskier propositions,...and not just on the coasts. Floods, wildfires, blizzards tornadoes, shear winds,...as we pump up the moisture and energy the atmosphere contains on average, the more intense the differentials we potentiate.
     
  9. Old Rocks
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    Old Rocks Diamond Member

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    And in order to have insurance, one will find that the building codes required for insurance will make the construction much more expensive. For instance, there are buildings, domes, that have withstood F5 tornadoes quite well. Domes. But they are spendy to build, and not all that space efficient. And, since we have seen this in several parts of our nation already, 2 to 3 one hundred year floods in the space of 20 years, building all new construction on the basis of the one hundred year flood line.
     
  10. skookerasbil
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    skookerasbil Gold Member

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    Translation??

    "I hate capitalism and will bend over backwards for the rest of my days trying to stick it to the successful guy!!!"


    All this global warming BS is about one thing: the destruction of the capitalistic system and global wealth redistribution. Its right n the UN Climate Change Playbook I posted up several weeks ago.

    These people............they spend their lives in misery, trying to fuck up the lives of the rest of us due to their own fucked up personal decisions. Its always the same...........but thatnk God they are losing.:D
     

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