Not an SNS Member?
Signup for a free trial now >>


Strategic News Service
 
 
SNS Subscriber Edition • Volume 25, Issue 6 • Week of February 10, 2020

 THE STRATEGIC NEWS SERVICE ©
GLOBAL REPORT ON
TECHNOLOGY AND
THE ECONOMY

the end of
insurance

 


 
 
 
 
 

SNS: The End of Insurance

 

In This Issue
Week of 2/10/2020 Vol. 25 Issue 6

_______

Coming April 23!

FiReSide NYC

With Special Guest

The Honorable John C. Demers

Assistant Attorney General
for National Security,
United States Department of Justice

 

"Spy vs. You:
What Every CEO Needs to Know"

Interviewed by Evan Anderson, CEO, INVNT/IP

(Subject of 60 Minutes' "The Great Brain Robbery")

Reception, Talks & Dinner, starting at 5:30pm

Lotte New York Palace Hotel
Madison Avenue
New York, New York

 

 

The End of Insurance

How a climate of financial instability is driving unprecedented global losses in the insurance and reinsurance industries

    by Berit Anderson

While politicians and lobbyists argue endlessly about whether climate change is human-caused, there is one industry in particular already feeling the financial burden of global climate change: homeowners insurance.

"Despite the manageable impact for insurers, the catastrophic fires highlight that the P&C insurance industry is at the forefront of environmental risk. The industry is exposed to the economic consequences of climate change, primarily through[its] unpredictable effect on the frequency and severity of weather-related catastrophic events, such as hurricanes, floods, convective storms, drought, and wildfires."

- Frank Mirenzi, VP and Senior Credit Officer, Moody's

Insurance companies around the world suffer direct financial impact whenever a wildfire swoops across Australia or Northern California or a hurricane makes its way up the Eastern Seaboard. And, although most people don't realize it yet, the numbers at these companies provide perhaps our most accurate real-time indication of the global impacts of climate change. In fact, things have gotten so dire in home insurance that we feel it merits its own discussion as an industry.

...



SNS Member's please login to view the report >>

OR

Signup for a free trial now >>






Not an SNS Member?
Signup for a free trial now >>