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Lloyd’s of London Latest Insurer to Warn on Warming, Mocks Deniers
Lloyd’s of London Latest Insurer to Warn on Warming, Mocks Deniers
I’ve made the point often. If you want to know if climate change is real, check with the people who actually have money on the table, skin in the game – the big insurance companies. These folks have more money than God, (almost as much as Exxon) and hire the smartest number crunchers in the world to assess their risk exposure. They are factoring in climate change, and pricing their coverage accordingly . As Eli Lehrer points out below, if they don’t get it right, someone will come in, undercut them, and eat their lunch.
Munich Re, the big euro re-insurer, has had climate on the radar since the early 1970s.
The head of exposure management at leading insurer Lloyd’s has slammed attempts to dismiss the latest UN climate science report, and says he’s unconvinced by claims the world is cooling.
“The sceptics are just trying to push the debate and they start at 1998, which was one of the hottest years on record,” says Trevor Maynard in a blog titled ‘Silencing the Sceptics‘.
“It’s a bit like someone breaks the world record for running 100 metres and then in the next ten races people say, ‘Runners are getting slower’.”
I’ve made the point often. If you want to know if climate change is real, check with the people who actually have money on the table, skin in the game – the big insurance companies. These folks have more money than God, (almost as much as Exxon) and hire the smartest number crunchers in the world to assess their risk exposure. They are factoring in climate change, and pricing their coverage accordingly . As Eli Lehrer points out below, if they don’t get it right, someone will come in, undercut them, and eat their lunch.
Munich Re, the big euro re-insurer, has had climate on the radar since the early 1970s.
[center]From a powerpoint by Munich Re’s Peter Hoeppe. Munich Re publication from 1973 warning of impacts of extreme events due to climate change.[/center]
The head of exposure management at leading insurer Lloyd’s has slammed attempts to dismiss the latest UN climate science report, and says he’s unconvinced by claims the world is cooling.
“The sceptics are just trying to push the debate and they start at 1998, which was one of the hottest years on record,” says Trevor Maynard in a blog titled ‘Silencing the Sceptics‘.
“It’s a bit like someone breaks the world record for running 100 metres and then in the next ten races people say, ‘Runners are getting slower’.”
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