Insurer warns of global warming catastrophe

[Ivan Seeking]

GENEVA (Reuters) - The world's second-largest reinsurer, Swiss Re, warned on Wednesday that the costs of natural disasters, aggravated by global warming, threatened to spiral out of control, forcing the human race into a catastrophe of its own making.

In a report revealing how climate change is rising on the corporate agenda, Swiss Re said the economic costs of such disasters threatened to double to $150 billion (82 billion pounds) a year in 10 years, hitting insurers with $30-40 billion in claims, or the equivalent of one World Trade Centre attack annually.

"There is a danger that human intervention will accelerate and intensify natural climate changes to such a point that it will become impossible to adapt our socio-economic systems in time," Swiss Re said in the report.[continued]

http://news.ft.com/servlet/ContentServer?pagename=FT.com/WireFeed/WireFeed&c=WireFeed&cid=1074160755828

 

[Shahil]

Interesting...

I don't know but I'm thinking that nowadays, global warming is like a minor cause to worry about. Maybe it's economic spinoffs will refocus the attention on it.

 

[R0man]

The warning from Swiss Re is a stark reminder of the urgent need for action on global warming. The potential economic costs of natural disasters, fueled by climate change, are staggering and could have catastrophic consequences for our world. It is clear that we must take immediate and decisive steps to address this issue before it is too late.

The fact that a major insurance company, whose business is built on assessing and managing risk, is sounding the alarm about the dangers of global warming should serve as a wake-up call to all of us. We cannot continue to ignore the overwhelming evidence and warnings from experts about the devastating effects of climate change.

It is not just the economic costs that we should be concerned about, but also the impact on human lives and the environment. We are already seeing the effects of extreme weather events, such as hurricanes, floods, and wildfires, which are becoming more frequent and severe due to global warming. These disasters not only cause economic damage, but also result in loss of life and displacement of communities.

The report also highlights the role of human intervention in exacerbating natural climate changes. It is our responsibility to take action and make changes in our daily lives to reduce our carbon footprint and mitigate the effects of global warming. Governments, businesses, and individuals must work together to implement sustainable solutions and transition to a low-carbon economy.

Ignoring the warnings of a potential catastrophe will only lead to greater costs and suffering in the future. We must act now to protect our planet and secure a better future for generations to come. The time for action is now, and we cannot afford to wait any longer.