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Insurance Industry Looking Hard At Climate Change
A recent paper in Science (abstract) examines the insurance industry's reaction to climate change. The industry rakes in trillions of dollars in revenues every year, and a shifting climate would have the potential to drastically cut into the profits left over after settlements have been paid. Hurricane Sandy alone did about $80 billion worth of damage to New York and New Jersey. With incredible amounts of money at stake, the industry is taking climate projections quite seriously. From the article:
"Many insurers are using climate science to better quantify and diversify their exposure, more accurately price and communicate risk, and target adaptation and loss-prevention efforts. They also analyze their extensive databases of historical weather- and climate-related losses, for both large- and small-scale events. But insurance modeling is a distinct discipline. Unlike climate models, insurers’ models extrapolate historical data rather than simulate the climate system, and they require outputs at finer scales and shorter time frames than climate models."
Nice try, but anyone who reads the actual report rather than the biased climate-sceptic web site you linked to will see that things still look pretty bad for a lot of people in the world. Of course the report is still a couple of years away from release so we don't know exactly what the final conclusions will be.
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
Regardles of the who and what, but the climate is changing noticable.
Ever hear of confirmation bias? Just because you think you notice something doesn't mean you do.
Besides we have yet to use the proper methods for determining whether weather is due to climate change. Here's a simple test. Take your suspect weather event and throw it in a pond. If it floats, then it's a witch^H^H^H^H^H climate change induced extreme weather event.