Global warming weakens outlook for insurance industry, expert says

04/4/2007 | Sun-Sentinel (Fort Lauderdale, Fla.)

Insurance losses will continue unless steps are taken to ease global warming, said Tim Wagner, co-chairman of the Climate Change and Global Warming Task Force for the National Association of Insurance Commissioners. "Insurance is priced based on statistics and probability. What climate change has done is create ambiguity and uncertainty in the pricing scenario," Wagner told the Florida Cabinet on Tuesday. Wagner supports a national catastrophe fund but notes that it would receive limited support from interior states.

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Sun-Sentinel (Fort Lauderdale, Fla.)

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