Global warming swelling insurance risk

[deadparrot]

Source: Associated Press

WASHINGTON - The insurer of last resort, the government faces a potential payout of at least $919 billion under a worst-case scenario of flood and crop losses due to global warming, congressional investigators say.

That total has grown from about $209 billion in 1980, and could be even higher today because it is based on two-year-old data, according to a report. It recommends an analysis of the potential long-term implications of climate change for federal flood and crop insurance programs.

"We're looking at more floods, droughts, pestilence, fires and storms — all carrying dire economic consequences," Sen. Joseph Lieberman (news, bio, voting record), chairman of the Senate Homeland Security and Governmental Affairs Committee, said Thursday.

Lieberman and Maine Sen. Susan Collins (news, bio, voting record), the committee's top Republican, requested the report from the Government Accountability Office, an arm of Congress.

Read more: http://news.yahoo.com/s/ap/20070419/ap_on_go_ot/global_warming_insurers

[Amonester]

1. No S**t Sherlock! Make the BFEE, CEOs and Helliburton & Co pay!

Problem solved. :sarcasm:

Anyone heard about any new training on "How to breathe underwater" yet?