Tuesday 25 December 2012

The Coming Crisis: Insurance report: Extreme weather already costing us dearly

The Coming Crisis
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Insurance report: Extreme weather already costing us dearly
Dec 25th 2012, 19:48

On the eve of the US elections, Hurricane Sandy rudely popped the bubble of global warming denial that has enveloped the US political system. But we can't say we weren't warned. Indeed, less than a week before Sandy first started forming as a tropical storm, global reinsurance giant Munich Re issued a report about the long-term trend of increasing extreme events, and the threats to life and property that they pose.

Severe Weather in North America: Perils · Risks · Insurance runs 277 pages, focusing on the period 1980-2011 - during which losses totalled just over $1 trillion - and notes: "The number of natural catastrophes per year has been rising dramatically on all continents since 1980, but the trend is steepest for North America," adding, "This increase is entirely attributable to weather events, as there has been a negative trend for geophysical events."

http://www.aljazeera.com/indepth/opinion/2012/11/201211291334845346.html

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