Reality of climate change hits insurers

Neither Tim Wagner nor Mike Kreidler imagined how climate change would intrude into state insurance regulation. Wagner, the director of the Nebraska Department of Insurance, said the reality is literally pelting him.

..”People are getting the idea that there is nowhere to hide on this issue,” said Andrew Logan insurance program director for the Boston-based Ceres, which promotes corporate environmentalism and has been advising Wagner, Kreidler, and NAIC. Ceres says that insured losses due to weather have grown 10 times faster than premiums since 1971, and the percentage of total economic losses from catastrophic weather has grown from a “negligible fraction in the 1950s to 25 percent in the past decade.””

Seattle Pi