Guest opinion: Dr. Tim Ball
“An ounce of prevention is worth a pound of cure.” – Benjamin Franklin
The claims of increasing disasters presented as inevitable by the Intergovernmental Panel on Climate Change (IPCC) provided opportunities for government interference and crony capitalism on a massive scale. Their actions ignored the realities and enabled unwise behavior by offering assistance and compensation if problems developed in areas where problems are well-known and inevitable.
The insurance industry is a major benefactor of this crony capitalism. They promoted the false IPCC claims on their web pages, sponsored documentaries, and did everything to exaggerate the threat. Look at the comments from the web page of Swiss Re.
Re/insurance plays an important role in managing climate and natural disaster risk, and that’s why it’s part of Swiss Re’s core business.
Managing climate and disaster risk is part of Swiss Re’s DNA.
Munich Re is a…
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