06 Jan '12, 1pm

Why is the Insurance Industry So Eerily Quiet on Climate Risk?

Why is the Insurance Industry So Eerily Quiet on Climate Risk?

If there's one industry that ought to be concerned about the threat of global warming, it's the insurance industry. OK, the ski industry, too, but I digress. Dave Jones, California's insurance commissioner, recently put it this way : "Climate change is an obvious physical threat to us all, but increasingly it also poses a serious financial threat to the insurance industry…" When extreme weather causes damage, insurers pay. So you'd expect insurance companies to be among the most forceful voices in corporate America calling for the regulation greenhouse gas emissions. Uh, no. They've been eerily quiet. And, at the least, you'd expect them to be proudly steering some of their massive investments to clean energy or energy efficiency projects aimed at reducing emissions of greenhouse gases. Wrong again. "It's surprising, in a sense, because they have so much to lose from clima...

Full article: http://www.greenbiz.com/blog/2012/01/06/why-insurance-ind...

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