Insurance companies have no doubts about the reality of climate change, as natural disasters caused $35 billion in private property losses last year alone

Wednesday, May 15, 2013

If there were one American industry that would be particularly worried about climate change it would have to be insurance, right?

From Hurricane Sandy’s devastating blow to the Northeast to the protracted drought that hit the Midwest Corn Belt, natural catastrophes across the United States pounded insurers last year, generating $35 billion in privately insured property losses, $11 billion more than the average over the last decade.

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