Global Warming

Global Warming Heats Up
the Insurance Industry
Without action to curb global warming pollution, average global
temperatures will continue to rise, increasing the frequency and intensity
of wildfires, heat waves, droughts, and floods. A changing climate means
instability in the insurance industry: in 2005 insurers paid out a record $80
billion in weather-related catastrophic losses worldwide, while the following
year brought record profits. A Supreme Court ruling on heat-trapping
emissions is likely to create new liability for polluters and their insurers.
To maintain consistent and affordable consumer coverage, insurers must
conduct a comprehensive assessment of their global warming exposure and
support responsible policy action to reduce heat-trapping pollution, like that
championed by NRDC and industry leaders.
For more information,
contact: David Tuft
dtuft@nrdc.org
202-289-2435
The Reality of Global Warming
The earth is heating up far faster today than at any
time in history. Although the daily weather can’t
be attributed to global warming, the overall trend
is clear. Over the past century we have seen rising
temperatures, more intense precipitation, melting
ice caps, and rising sea-levels—all due to increasing
concentrations of heat-trapping gases caused by
the burning of fossil fuels. NASA reported that
2005 tied with 1998 for the hottest year on record,
and all 10 warmest years on record have occurred
since 1990. And it’s only getting hotter—the
most recent Intergovernmental Panel on Climate
Change (IPCC) projects that the global average
temperature will increase by between 4 to 11
degrees Fahrenheit this century if our reliance
on fossil fuels accelerates. The IPCC, reflecting
the consensus view of hundreds of the world’s
preeminent climate scientists, concluded that heattrapping
pollution has “very likely” caused most of
the rise in global average temperatures since 1950.
They predict that without action to curb global
warming pollution, it is very likely that heat waves
and heavy precipitation events will continue to
become more frequent and hurricanes are likely to
become www.nrdc.org/policy more intense.