While this is the beginning of a new year, old problems stillremain—some of which show no sign of being resolved anytime soon,including in the insurance industry.
Long-tail risks are a perfect example of how the past has a wayof creeping up when you least expect it. There are two long-tailrisks insurers should pay attention to in 2012 for the benefit ofthe industry and the global village.
First is climate change. An article a couple of weeks ago inThe New York Times titled, “Harsh Political Reality Slows Climate StudiesDespite Extreme Year,” examined how political pressure iskilling the financing needed to study climate change—and givedirection to determine what could help deal with the impendingfuture.
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