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I, too, am hesitant to respond to an old story. That's especially the case because some offended denialist on this thread is downvoting all of my comments out o
by mncolinlee 13y ago
I, too, am hesitant to respond to an old story. That's especially the case because some offended denialist on this thread is downvoting all of my comments out of pure vendetta.
Perhaps you're right about the jail claim reaching too far. I didn't think it was too much of a stretch to guess that a company founder would fight to keep his company's investment thesis sound.
I did indeed have the data to back up all of the insurance market claims, but wanted to make this a self-contained article rather than direct people away to footnote links. Here's an industry paper written by employees from a plethora of reinsurance companies. The paper directly argues for higher rates to account for risk models failing to account for worst case climate scenarios and somewhat lower rates where climate mitigations are used. They also cite an academic paper describing how UK flood and Florida wind storm insurance markets will become uninsurable without climate mitigations.
https://www.genevaassociation.org/media/616661/ga2013-warming_of_the_oceans.pdf https://www.genevaassociation.org/media/616661/ga2013-warmin...
The UK had such a hard time keeping their insurance against floods that they had to enact government protections to stop insurers from pulling out of the market completely.
http://www.theguardian.com/money/2013/jun/27/flood-insurance-deal-industry-government http://www.theguardian.com/money/2013/jun/27/flood-insurance...
- ignostic 13y agoThanks, interesting sources :)