Insurance Industry
In 2004 Swiss Re, the world's second largest reinsurance company, warned that the economic costs of climate-related disasters threatened to reach $150 billion a year within ten years.
In 2006 Lloyd's of London, published a report highlighting the latest science and implications for the insurance industry.
Swiss Re, has said that if the shore communities of four Gulf Coast states choose not to implement adaptation strategies, they could see annual climate-change related damages jump 65 percent a year to $23 billion by 2030. “Society needs to reduce its vulnerability to climate risks, and as long as they remain manageable, they remain insurable, which is our interest as well,” said Mark D. Way, head of Swiss Re’s sustainable development for the Americas.
AIG is a member of USCAP (see above).
Read more about this topic: Business Action On Climate Change
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