Wednesday, March 14, 2007

The cost of alarm

Property insurers suffered their third lowest losses for the past 20 years, as insurance firms as a whole paid out 15.9 billion dollars in catastrophe- related claims in 2006.

The insurance industry has spoken. It’s going for the models. And the higher premiums:

However, insurance companies have adjusted their modelling to account for steeper losses in the future, partly due to global warming, the study added.

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