Why You Can’t Trust The Insurance Industry’s Secret Science On Climate Catastrophes [Forbes]
MUENCHENER RE GP UNSP/ADR (MURGY)
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Source: Forbes
“ The last decade was the most expensive for natural disasters Planet Had 40 Billion-Dollar Weather Disasters in 2019, the Fourth-Most on Record I have studied the economic costs of disasters and their relationship to changes in climate for more than 25 years released last week given several talks co-authored a paper new Aon catastrophe report Munich Re, which has been tracking global catastrophe losses for many decades Catastrophe loss estimation involves many uncertainties Curious, I explored further, and what I found is extremely troubling, and offers some lessons for all of us who rely on industry data in our work. I compared the annual catastrophe loss estimates for 2000 to 2018, as published by Aon one year ago published last week, looking back at 2019 For weather-related disasters, which comprise the majority of historical losses and understandably are at the focus of discussions of climate change, Aon revised upwards loss estimates in each year. The total increase in reported
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