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Insurance Industry Warned of Nanotechnology Risks
SilentScream writes "Cordis reports that major reinsurance company Swiss Re has advised insurance companies that they may need
to reconsider covering products manufactured using nanotechnology until more is known about any possible side effects of the technology. The recommendation is detailed in a 57-page report titled 'Nanotechnology
- Small matter, many unknowns', which is available on the Swiss Re web site. The report acknowledges that
further research is needed but outlines the possible effects of nanotechnology on the human brain and the potential for an asbestos-like threat."
I'd say the risks of nanotechnology are of small concern.
The risks of cloning dinosaurs or time travel?
But then, people take sci-fi horseshit pretty seriously these days. I was watching a Greenpeace guy debate some scientist about "the day after tomorrow" on some news show.
I don't need no instructions to know how to rock!!!!
I've been working with carbon nanotubes (buckyballs) for 5 years, no filters, no clean rooms, no suits, none of that fancy stuff. Carbon nanotubes are basically a superfine black dust. I haven't any I haven't I haven't noticed haven't noticed noticed haven't noticed I haven't noticed any problems.
Uhm, they aren't talking about skynet or grey goo or any technophobic BS like that. They're talking about nano-sized dust that could cause problems similar to asbestos when inhaled. It's absolutely a real problem that should be researched.
Far from seeming to be technophobic zealotry, the report appears to ask questions from a philosophically disinterested perspective.
It does not say "It will all go horribly wrong", in a technophic vein.
Rather, asks open, critical questions, that lead to the question most important for the interests of the insurance industry:
"are we at risk of losing money?"
Hardly zealotry.
Skynet succeeds as a dramatic device, because of its resonance in our culture.
It is a reflection of healthy distrust.
We have learnt to love the beauty of scientific philosophy and the comfort it has brought us. ... the list goes on.
But, we had out fingers burnt by asbestos, thalidomide, dirty air,
Why should we cede automatic trust to those who can make huge profits now, and never have to pay more than a fraction of the cost when things go abominably wrong?
I for one, refuse to bow to our new nanotech engineering masters
Insurance companies are in no way totally funded by what you pay for an insurance premium. Not even close, in the vast majority of cases. Most of them are part of conglomerates, and make their real money in diverse ways, large wall street trading, mortgage brokering and so on. All of them are seeing their businesses go south in this economny, at the same time that risks are being better analysed. In addition, they have suffered some pretty significant losses in the past, after first being "assured" by scientists and whatnot that such and such was "completely safe", asbestos being mentioned in the opening blurb being a very good example. Here's a clue: scientists are just as often wrong in their future predictions as they are right. Hmm, another one. I can distinctly remember any number of "scientists" and "government spokes people" assuring the US and the military that "agent orange" was perfectly harmless and safe.
Turns out they were wrong, wrong on asbestos, wrong on agent orange, but... you get the same amount of "scientists" now as back then still pulling the same thing-they invent something, and almost immediately say it's "safe" if there's an immediate or close to immediate mega profit angle that can be garnered.
With nano-they do NOT know what is going to be safe and what isn't, so from the insurance companies POV it's "waitaminnit fellas, you gave us this song and dance before,so let's just think on this again, or you guys underwrite it yourselves".
That's all that's going on now, and the insurance guys would be total fools to not be professional skeptics of "scientists" or "industrys" claims on this or that. Fool me once, shame on you, fool me 2983 times, well shame on me. Even the dullest wits eventually bingo to what is a good deal or not. That's the position they are in now. for some things, there's no amount of money available to cover some of the potential risks, so it's uninsurable. Just the way things are I guess. If it costs as much to insure some piece of tech as you would hope to benefit from it, then it's a better idea to just skip it, go on to something else.