Insurers urged to adapt to global warming

Financial Times : The insurance industry must do more to address the negative effects that global warming may have on its business and its customers, say insurer Allianz, and World Wildlife Fund, a conservation group. The industry should work with modellers and scientists to increase the accuracy of climate change modelling says their report which was released Tuesday. “The way insurance is priced, we look backward not forward, so it’s important to understand climate change and know what we’re dealing with,” said Clem Booth, a board member at Allianz. “Our customers will be affected by it, our shareholders could be threatened by it.” Related links Financial Times