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Climate Change Is Kicking the Insurance Industry's Butt http://apocadocs.com/s.pl?1414207543
Global warming is increasing the risk of damage to lives and property from natural disasters beyond what many insurers are willing to shoulder. And most insurance companies aren't taking adequate steps to change that trend, the survey found. That's a problem even if you don't live by the coast: When private insurers back out, the government is left to pick up much of the damage costs; already, the federal flood insurance program is one of the nation's largest fiscal liabilities.
Ceres, an environmental nonprofit, evaluated the climate risk management policies of 330 large insurance companies operating in the United States. The results are worrying. Only nine companies, 3 percent of the total, earned the highest ranking....
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[Read more stories about:
faster than expected, unintended consequences, tipping point]
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It's strange, to imagine that somehow consequences could result from our actions. Aren't we protected from such craziness by the rules of the universe?
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