In the wake of skyrocketing insurance claims due to natural disasters—hurricanes, wildfires, droughts, blizzards and the like—insurers have been imposing steep rate hikes and, in some cases, fleeing high-risk areas, leaving consumers out in the cold. It's gotten so out of hand, consumer advocates say, that insurers now are even crying climate change as a factor in raising premiums or dumping clients.Hmmmmnnn - insurance companies are worried about business risks created by climate change. Are climate change deniers going to refuse to buy insurance or insurance company shares? Are deniers going to heap abuse upon inusrance companies? Call insurers liars? Accuse them of falsifying data? Of course not - their denials are not based upon fact.
As the crisis mounts, hard hit states such as Florida and Louisiana are increasingly stepping up as insurance companies check out, providing coverage for residents dropped by their insurers. And signs are things will get worse before they get better: The National Oceanic and Atmospheric Administration (NOAA) is predicting that this year's hurricane season—which officially began June 1—will be "very active," with three to five major hurricanes in the Atlantic.
Saturday, April 10, 2010
Insurance Companies Worry About Climate CHange