29 Nov '13, 10am

Climate Change and the Insurance Industry

Climate Change and the Insurance Industry

Since Superstorm Sandy, insurance leaders are becoming increasingly aware of the benefits of sustainable building. By Arthur Murray The insurance industry conjures up images of old guys wearing suits and fighting anything that threatens the status quo. But perception isn’t reality when it comes to the insurance industry and climate change. Since at least the late 1980s, insurance providers have expressed public interest in discovering whether there’s a link between global warming and increases in catastrophic storms, according to a study conducted on behalf of the Insurance Information Institute (III). Why? Because providers fuel their business by accurately predicting risk. And many don’t like what they hear. For example, Karen Clark & Co., a Boston-based risk-assessment consultant, predicts that top hurricane wind speeds could increase up to 5 percent because of climate ...

Full article: http://www.triplepundit.com/2013/11/climate-change-insura...

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