Betting on Climate Change
Why is it that insurance companies and major corporations know about climate change while many Congressional leaders and Tea Party members think this is a myth? I bet you that anyone who has serious money or manages it is starting to add up the impacts. This January a leading world insurance company, Munich Re, released a report on the natural disasters of 2010 and concluded that the high number of weather-related natural catastrophes and record temperatures provide further indication that climate change is advancing. According to the report, 2010 had the second highest amount of weather-related catastrophes since 1980, and caused about $130 billion in damages--$37 billion of which was insured. While some of the 950 natural disasters that occurred last year were earthquakes, and not attributable to climate change, nine-tenths of them were weather-related. Finally, I ask if any person is in doubt look on your own. Yes it is very cold now but last year was one of the hottest on records...