Financial
Times: The insurance industry must do more to address the
negative effects that global warming may have on its business
and its customers, say insurer Allianz, and World Wildlife
Fund, a conservation group. The industry should work with
modellers and scientists to increase the accuracy of climate
change modelling says their report which was released Tuesday.
"The way insurance is priced, we look backward not forward, so
it's important to understand climate change and know what we're
dealing with," said Clem Booth, a board member at Allianz. "Our
customers will be affected by it, our shareholders could be
threatened by it."
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