Report: Insurers profit from climate alarmism

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.

And we still await the results of the Nature investigation.

Click for the CFA report.

Related Reading:

One thought on “Report: Insurers profit from climate alarmism”

  1. Sorry but I can’t condemn the insurance industry for trying to reduce their costs, their liability and increase their profits. The last I looked, despite the very best efforts of the Obama administration, the American Bull is still alive if not exactly well. This is a private, commercial entity exercising their right to compete in the market they’re forced to deal with. They chose to join and use the environmental “industry” rather than be at their mercy.

    Nobody that has their mind right, comprehends human nature, its diversity and its weaknesses expects or insists that the free market be a noble, righteous enterprise. “Dog eat dog” is the commonly used descriptive term. It’s not noble or righteous but this is how American capitalism works, this is how it’s developed over 2 1/2 centuries and this is what made America the envy and the hated adversary of the world. All Americans need to stop playing the blame game, join hands and work together to kick butt, big time. The world will have to catch up, not drag us down and it will be a much better place for it.

Leave a Reply

Your email address will not be published.