a_unique_person
Director of Hatcheries and Conditioning
Insurance premiums are rising, and more areas that were once insured will no longer be able to get cover.
We can either take a pro-active approach to this business, and get Kyoto going, or sit back and see what disasters happen.
For myself, the pro-active approach is much more appealing.
http://www.theage.com.au/articles/2003/12/11/1071125591409.html
We can either take a pro-active approach to this business, and get Kyoto going, or sit back and see what disasters happen.
For myself, the pro-active approach is much more appealing.
http://www.theage.com.au/articles/2003/12/11/1071125591409.html
Economic losses in Europe from the summer drought exceeded £7 billion ($A16.5 billion) in the agriculture sector alone because of loss of crops and livestock, the insurance industry said at climate talks in Milan.
Premiums are being increased across Europe to cope with the number and frequency of extreme weather events and some parts are becoming uninsurable because of flooding.
Thomas Loster, of Munich Re, one of the world's largest reinsurance companies, said householders in lower risk areas might soon have to pay a £350 excess to get insurance for extreme weather events.
"We used to talk in terms of floods and heatwaves being one in 100-year events, but in the south of France this year we have had a one in 100-year heatwave, and last month a one in 100-year floods - all in the same year," he said.
"This is climate change happening now and a big headache for the insurance industry."
Mr Loster, a geographer and expert in weather-related losses, said this year's German heatwave, where record temperatures were reached over several days, was a one in 450-year event, according to modern measuring methods. Climate scientists had told him that it had probably not happened since the last ice age.