while some scientists and others are still disputing the possible effects on global warming , the insurance industry seems to have quietly reviewed its vulnerability to possible claims caused by global warming .
and one thing i know : insurance companies do not like uncertainty and they like losing money even less (i ought to know , i worked for about 30 years in the insurance industry . while i worked in the life insurance industry , where the client is either alive or dead , even there risks were carefully evaluated ) .
after reading up on the subject , it's become clear that insurance companies have been adjusting their policies quietly to reduce their exposure to increased risk .
one of the things they have done is to decrease premiums for "green buildinds and projects" . this would likely increase the cost of doing business (insurance premiums) for "non-green" business .
so there is an incentive for business to "go green" .
if that doesn't do it , insurance companies will likely exclude risks from "global warming" and perhaps refuse to underwrite certain risks .
as anyone who has had to negotiate for a policy-renewal after a car accident has learned , insurance companies don't like to take on more risk - and if they do it , they'll want MORE MONEY !
imo insurance companies will play a quiet but influential role in dealing with global warming . residents in areas likely to flood are already having difficulty obtaining insurance .
hbg
i'm giving links to a few articles for anyone interested in the subject ;
perhaps some might find them of interest ;
feedback appreciated :
...BUSINESS WEEK ONLNE REPORTS
...A NEW COMBATANT AGAINST GLOBAL WARMING
...INSURANCE COMPANIES WARN OF COSTS OF GLOBAL WARMING
...INSURANCE COMPANIES TAKE ON GLOBAL WARMING
