Swiss RE and climate change

Discussion in 'Environment' started by Old Rocks, Feb 5, 2011.

  1. Old Rocks
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    Old Rocks Diamond Member

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  2. skookerasbil
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    skookerasbil Gold Member

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  3. Mini 14
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    Mini 14 Senior Member

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  4. westwall
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    westwall USMB Mod Staff Member Gold Supporting Member Supporting Member

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    Yep, companies like AIG allways get it right...don't they?
     
  5. Old Rocks
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    Old Rocks Diamond Member

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    They are among the people first affected by the realities of a changing climate. So they have a much more realistic view of what is happening than those whose only reason for their point of view is to defend a political and economic position.
     
  6. Meister
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    Meister VIP Member Supporting Member

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    Have they been peer reviewed? :eusa_whistle:
     
  7. Trajan
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    Trajan conscientia mille testes

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    did you read this?


    a) they are basing their assumptions on the IIPC reports...b) since when are ins. co's considered a barometer ( pun intended) of trust?
     
  8. Toro
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    Toro Diamond Member

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    The insurance and reinsurance companies have been adjusting their probability tables for several years now, particularly after the 2005 and 2006 hurricane storm seasons when the SE US was pounded by several storms, including Katrina and four storms that hit Florida alone.

    However, payouts after those years declined dramatically, so it may be that the insurance and reinsurance companies were over-estimating the effects of Global Warming. If you don't believe in Global Warming, and the insurance companies are charging policies based on Global Warming, then insurance companies will make a lot of money in the years ahead, which should be good for the stocks, all else being equal. If, however, they are undestimating Global Warming, then payouts will be higher and the stocks will do poorly, all else being equal.
     
  9. Toro
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    Toro Diamond Member

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    dp
     
  10. Old Rocks
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    Old Rocks Diamond Member

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    Considering the affects of the floods in Tennessee, Queensland, and the present damages from the snow storms, 2010, and 2011 may be bad years for the insurance companies.

    And now we can add Sri Lankri to the list, although I don't know the state of the insurance industry there. But a million people affected by present flooding, and this is the second go around for them.
     

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