| Lloyd's: Insurers must act on climate change [message #391947] |
Mo, 05 Juni 2006 04:53 |
|
Insurers must act on climate change, says Lloyd's
Sun Jun 4, 2006 7:01pm ET
By Simon Challis
LONDON, June 5 (Reuters) - Insurers must do more to understand the
implications of climate change on their businesses or risk going out of
business, Lloyd's of London [LOL.UL] said in a report released on
Monday.
Recent scientific evidence on the buildup of greenhouse gases has shown
that some degree of climate change is now inevitable and could actually
happen faster than was previously expected, the report said.
"The insurance industry must start actively adapting in response to
greenhouse gas trends if it is to survive," the report says.
Lloyd's, the world's leading specialist insurance market, said the
insurance industry had been slow to analyse how the increasing weight
of scientific evidence into climate change would affect its business.
"We believe that it is time for the insurance industry to take a more
leading role in understanding and managing the impact of climate
change," the report concludes.
Insurers stand in the front line of climate change in terms of footing
the economic bill of natural disasters. Last year was the industry's
costliest ever for catastrophes, with overall claims of $83 billion, of
which $65 billion came from hurricanes Katrina, Rita and Wilma which
hit the United States.
The report raises the prospect that insurers may face even higher
claims from an increasing number of natural disasters in years to come,
caused by climate change.
Lloyd's warns companies to take action to help protect themselves or
face oblivion.
LOOKING BACKWARDS, NOT FORWARDS
[ . . . ]
Lloyd's also raised the question of whether most weather-related risks
would remain insurable in the future.
[ . . . ]
The full article is at:
http://today.reuters.com/stocks/QuoteCompanyNewsArticle.aspx ?view=CN&symbol=&storyID=2006-06-04T230049Z_01_L0253 9261_RTRIDST_0_FINANCIAL-INSURERS-CLIMATE.XML&pageNumber =1&WTModLoc=InvArt-C1-ArticlePage1&sz=13
|
|
|
| Re: Lloyd's: Insurers must act on climate change [message #391973 ] |
Mo, 05 Juni 2006 15:13 |
|
Hi,
I want to write a briefing on "Opportunities & threats to foreign
players in reinsurance industry in china". Can you give some good
articles to start with. I want to build the literature over the topic
first.
If possible help me....
thaks & regards
Karthik
|
|
|
| Re: Lloyd's: Insurers must act on climate change [message #391975 ] |
Mo, 05 Juni 2006 15:43 |
|
<karthikplus [at] gmail.com> wrote in message
news:1149513197.979148.202310 [at] g10g2000cwb.googlegroups.com...
> Hi,
>
> I want to write a briefing on "Opportunities & threats to foreign
> players in reinsurance industry in china". Can you give some good
> articles to start with. I want to build the literature over the topic
> first.
>
> If possible help me....
>
> thaks & regards
> Karthik
>
Take a look at the most recent news item for these folks:
http://www.jltgroup.com/index.php4
maybe someone there might be able to help you.
|
|
|
