Pennsylvania

Energy. Environment. Economy.

Weather Related Insurance Losses in North America Have Jumped

Emma Jacobs / WHYY

After Hurricane Sandy leaves millions without power and halted public transit, crews work to clear trees off of SEPTA regional rail lines in Montgomery County.

Just a week and a half before Hurricane Sandy struck the eastern seaboard, a report by one of the world’s leading reinsurers warned of increasing costs of man-made climate change. Costs in North America have jumped significantly. Munich Re insures insurance companies. Climate Central has more on Munich Re’s report:

North America has seen the world’s sharpest increase in the number of natural catastrophes during the past 32 years, a trend that in some respects is linked to manmade global warming, according to a report released Wednesday from the global reinsurance giant Munich Re. The study, which has not undergone scientific peer review, examined natural disaster losses between 1980 and 2011, finding that weather-related loss events in North America “nearly quintupled” during the period, compared to just an increase factor of two in Europe, for example.

Comments

  • http://pulse.yahoo.com/_E6SO4Z7NYPSTQ3JNAGZIGM6YOY stevee

    Insurers should refuse to pay claims to those who suffered storm or drought losses after financing the campaign to sow doubt about climate science. After all we do not let arsonists recover insurance after they torch their own house and murders can not inherit from their victims even if they are named in their victims wills. Govt relief agencies should not give taxpayer dollars – that is to say YOUR dollars – to the financiers of this campaign of deceit for the same reason. Sure they have a constitutional right to free speech but that does not mean private business or the taxpayer should make them whole when they suffer the natural consequences of their own choices through extreme weather. But that is just the non-criminal side of the legal coin. We all know the right to free speech does not allow one to falsely yell “Fire!”. Presumably the same rule makes it a criminal act to falsely tell guests in a burning hotel “There is no fire on the lower floors; just go back to bed” I suppose that is a slippery slope from a free speech point of view but surely the ordinary citizen should not pay the extreme weather damages these fraudsters incur through higher taxes and insurance premiums. Do not let arsonists recover for torching their own homes!

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