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
Famous quotes containing the words insurance and/or industry:
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
—Emma Goldman (1869–1940)
“Whatever I may be, I want to be elsewhere than on paper. My art and my industry have been employed in making myself good for something; my studies, in teaching me to do, not to write. I have put all my efforts into forming my life. That is my trade and my work.”
—Michel de Montaigne (1533–1592)