Insuring against Climate Change

October 15, 2007 · 0 comments

in Climate Change,Economics

The London Free Press (London, Ontario, that is…) ran this article today highlighting that at least one industry is fully engaged in the fight against Climate Change. The Insurance industry.

It seems the Insurance industry is convinced by the science, and they are also convinced that they have too much at stake by insuring against storm events that are no longer rare, but have an increasing liklihood of actually happening. And after Katrina, they are also convinced that costs for each event will continue to grow.

As I have written about before, cities too are facing higher costs in the design and installation of storm sewer system since 100 year storm events are becoming more and more frequent.

I usually love it when I’m right. But in this case, damn, I’d rather have been wrong.

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