Does this explain why MIT meteorologist and alarmist Kerry Emanuel is a board member of at least two insurers?
The Consumer Federation of America says in a new report:
There are many conclusions to be drawn from the reduced losses that insurers have experienced in recent years.
The prime conclusion is that the insurance industry has moved from its historic role as a calculated risk-taker to one of a risk-avoider, exposing consumers and taxpayers to much higher costs. Not only have insurers insulated themselves from their historic share of hurricane risk, they have made no serious effort to write flood risk and terrorism risk, which are entirely backed by federal taxpayers.
Although insurers have become adept at shifting the cost of catastrophe losses to others, they still use catastrophic weather events to advocate for measures that would shift risk even more, such as higher rates, or putting more policyholders in pools or created taxpayer-supported entities. Thus, many consumers exposed to catastrophe weather risk are also vulnerable to insurer attempts to unjustifiably increase rates or hollow out coverage…
We reported earlier this year that Emanuel worked for two insurance companies — an affiliation that he failed to disclose on at least one published study in Nature.
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- Emanuel fails to disclose conflict of interest in latest paper — Update #1
- Emanuel fails to disclose conflict of interest in latest paper
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- Climate alarmist Emanuel is director of offshore insurance company
- MIT’s Kerry Emanuel: GOP skepticism makes him ‘ashamed to be an American’