Research & Markets Analyzes Climate Change Threat to Insurers

November 26, 2007

Dublin-based Research and Markets announced the addition of “Global Warming & the Insurance Industry” to their offering. The study concentrates on the possible effects of the increase in the average temperature of the Earth’s near-surface air and oceans in recent decades and its projected continuation.

The insurance industry has become increasingly concerned by the threat to their business posed by climate change. They are starting to see what, if anything, they can be done about it. The report examines in detail the measures the industry has taken or is contemplatting.

“Though it is difficult to connect specific weather events to global warming, an increase in global temperatures may in turn cause other changes, including glacial retreat and worldwide sea level rise,” the bulletin noted. Changes in the amount and pattern of precipitation may result in flooding and drought. There may also be changes in the frequency and intensity of extreme weather events. Other effects may include changes in agricultural yields, reduced summer stream flows, species extinctions and increases in the range of disease vectors.

Research & Markets points out that insurance companies have historically “done more than collect premiums and pay claims. They’ve made the world a safer place – by promoting fire prevention, lobbying for building codes, testing the crash-worthiness of cars and rating vehicles for safety.”

The new research report analyzes the impact global warming and climate change is having on the insurance industry, which, according to a number of analysts, could be the “worst hit industry when it comes to battling and getting over the growing number of natural disasters.”

The report examines “the cause and effect of Global Warming, the technicalities of the Kyoto Protocol, Global Climate Models, the economics of global warming, and then moves on to analyze the impact of global warming on the insurance industry,” said the announcement. “This is analyzed through growth drivers, issues facing the industry when it comes to global warming, the various action models the insurance industry is following in order to combat global warming, and much more.

It also includes an analysis of the major re/insurers which are involved in the global warming debate such as Swiss Re, Munich Re, etc.

For more information go to:

Source: Research and Markets

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