Skip to comments.Rift Widening Between Energy And Insurance Industries Over Climate Change
Posted on 05/18/2014 5:12:07 PM PDT by Oldeconomybuyer
... For insurers, its not about the political machinations but rather, its about the potential economic losses. If even part of the predictions hold the ones released by the Intergovernmental Panel On Climate Change that ascribe temperature change to humans with 95 percent certainty then the rate of extreme weather events will only increase and the effects would be more severe. That, in turn, would lead to greater damages and more payouts.
Meantime, Standard & Poors Ratings Services just issued a report saying that the credit ratings of sovereign countries would be affected by global warming. It pointed to Typhoon Haiyan in the Philippines, heavy flooding in Great Britain and the record cold temperatures this past winter in the United States, all of which caused economic damages and disrupted business practices.
When it comes to a fix, the public sector will lead but only when pushed by its citizenry or powerful financial concerns. Here, a potential battle is brewing between certain energy entities and the insurance industry that would pay many climate-related claims. Just who wins will depend on how severe the weather becomes and the financial toll it leaves behind.
(Excerpt) Read more at forbes.com ...
We must destroy the false god of global warming.
You know, there's something wrong with what seems to be an implied presumption in this whole "global warming" debate.
The implied or expressed presumption seems to be that if global warming does exist, then governments are automatically empowered and justified to launch Agenda 21 and commandeer individual's rights to "save the planet".
The issue isn't global warming but the absolute nonsense that if there is a warming trend, man is causing it. This is a subset to the whole enviro-nazi/Agenda 21 non-scientific theory and agenda that at some point very soon, man will have somehow made the earth "unsustainable", again justifying governments to become totalitarian collectivist states in order to commandeer individual's rights to "save the planet".
These people have no solid scientific evidence of risks to "sustainability" even though they will blast you with a "wall of sound" about how correct the theory is. But it is nonsense. The earth is sparsely populated and vast areas of the earth that contain vast natural resources that have yet to be explored and tapped.
They're only guessing, and they use a lot of facts and figures to back it up, but in true collectivist fashion, they'll overwhelm you with detail hoping you won't notice their evidence, which may or may not be true, does not support their conclusions. So they're guessing.
Well, in that sense, I'm also guessing, but my gut tells me these atheistic (for the most part) Fabian, Progressive Socialists have an agenda of world dictatorship and this is part of that agenda. Truth doesn't matter to them. The ends justify the means to them.
But the truth is that God made the earth to ABSOLUTELY SUSTAIN a world filled with people. Otherwise He wouldn't have commanded man to "Be fruitful, multiply, and replenish the earth and subdue it and have dominion" over it (Gen 1: 28). After all, He made the world and obviously knows what's in it.
We are almost certainly in the last days and the truth is, the Bible points to global warming in the last days, but not this nonsense that man is making it warmer.
It would help to get non-agenda scientific community to show what REAL and REVIEWED scientific methods reveal about man's complicity. I know it's bunk but it would be nice to see some scientific proof to back it up.
Imagine GLobal Warming Insurance!!
Colossal Weather Disrutption Insurance?
Rift Widening Between Energy And Insurance Industries Over Climate Change
The article doesn't mention anything about a "rift" between the energy and insurance industries. The only notable mention of energy comes in the author's byline, in which he's described as a write on energy topics. WTF?
every time omoocha takes off using af1, i wonder if we can claim legally actionable global climate change damages.
dat booty be hella big @ss booty fo chizzle
Well done sir!
One thing is for certain, it won't be us little people. Our energy costs will "necessarily skyrocket" which means colder homes in winter, hotter homes in summer, fewer vacation trips, less disposable income and every product with higher prices. And all of that money flowing out of our pockets will flow straight to the ruling class, FOOs, crony capitalists, and university professors.
The middle class is going to get creamed.
This is all already happening, right now.
Pressing the “Like” button!!!
Correct. Moreover in Germany and England, too. At least they are wise enough to backtrack from their disastrous dalliance with “green” energy. Germany is going full steam ahead to build ten coal plants as we breathe.
Interesting, thanks for the links.
Actuaries v climate ‘scientists’.
If insurance companies see increased risk, they should simply raise their rates.
What climate change?
We’ve had this climate longer than I’ve been alive, and there is no visible evidence that anything has ever changed.
Hard to believe that a professional enterprise like Standard & Poor is buying into the Climate change scam.
Unless they anticipate that Omugabe's regime, or any subsequent regime will further redefine what used to be insurance, to cover retroactive signup for coverage, a la Obamacare.
With the ongoing CF of Obamacare, that seems very unlikely, bordering on impossible.
Glad you saw it before the mod zapped my comment. (meant to cc you on the other).
Not sure if it was my trash-talking Costco or linking to the Amazon reviews...
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