Even though Al Gore has been awarded the Nobel Peace Prize, the debate over whether man-made pollution is responsible for global warming and the Earth's eventual self-destruction is far from settled. But that doesn't mean property insurers shouldn't be moving aggressively to offset the potential risks of climate change, no matter what the cause, according to a panel of experts at this week's Property Casualty Insurers Association of America annual conference.
Instead of obsessing or arguing over the global threat posed by climate change, property insurers should focus on practical steps to limit catastrophe exposures on individual homes and businesses, the panel agreed–even though they did not all agree about the cause of global warming, or its results.
Indeed, they argued, it is far more productive for insurers to concentrate on risk management effortssuch as changing land-use regulations, bolstering building codes and improving the quality of underwriting datathan getting caught up in the controversy over the causes and long-term impact of global warming, suggested the panel, moderated by Regis Coccia, editor of Business Insurance.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
