Reward and risk: Global warming and the eternal present

June 15, 2006

Recently Florida’s U.S. Sen. Bill Nelson co-sponsored legislation with Louisiana Sen. Mary Landrieu that could lead to a national insurance-catastrophe fund. Let’s take a closer look at the root of this crisis and what to do.

Insurance companies cannot afford to fall behind the costs of more frequent and powerful natural disasters. They are not waiting to abandon coverage or raise rates.

This vast industry is not sitting on its hands while business models based on the best available science show trouble ahead.

In fact, global warming is the root of the insurance crisis in Florida. Read the rest of this entry »