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Fri Apr 27, 2012, 11:05 AM

The World's Insurers Brace For Climate Change -- Except In America

Climate change is increasing insurance costs all over the world. But a recent Ceres report finds that American firms are still in denial.
April 26, 2012 |
Photo Credit: New Muse

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http://www.alternet.org/world/155164/the_world%27s_insurers_brace_for_climate_change_--_except__in_america


Given that insurers are likely to be among the first companies affected by climate change, you might expect the industry to be better prepared than most.

But that is not how it appears to many analysts, regulators, and industry representatives, who say insurers are showing a lack of urgency on the twin threats of massive future damage claims from weather-related events, and the prospect of growing climate change-related litigation.
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Reply The World's Insurers Brace For Climate Change -- Except In America (Original post)
polly7 Apr 2012 OP
saras Apr 2012 #1
DCKit Apr 2012 #2

Response to polly7 (Original post)

Fri Apr 27, 2012, 12:00 PM

1. They expect to bail and not pay. And close up shop, or be mandated by the government.

 

I think their preference, and "plan" is to refuse to pay, and be mandated anyways by a friendly government. Ultimately they'll only pay off to a select few corporate partners...

because they CERTAINLY aren't going to stay in business under a normal business model.

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Response to saras (Reply #1)

Fri Apr 27, 2012, 12:08 PM

2. Nah, just a "bail-out".... from US.

 

Socialize the losses, privatize the profits.

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