Network for the Environment and Social (Human) Security

Insurance and Climate Change

Posted by on Feb 12, 2011 in Ecology | 8 comments

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The modern man is sufficiently insured against all possible eventualities, calamities and risks. The insurance industry is big business. The insurance corporation AIG is US-based and the biggest insurance company in the world. According to Forbes 2008 AIG was once the 18th largest public company in the world. It just shows that even in the USA, where many people seem to have difficulties with the public health insurance, the industry is big business. 

Modern man likes to feel secure an if something bad happens to him, he wants to be taken care of. This is the quintessence of the insurance business. The best would be to be fully and comprehensive insured against all eventualities. The experience in Europe with the public health insurance is in general positive and also in the interest of pharmaceutical industry and the health profession. The revenues are secure.  

Still there are some points about insurance and Climate Change, which have to be mentioned.  

First, if the signs of the Climate Change, such as floods, will aggrevate, we will come to a point, where it won’t be profitable for insurance companies to insure such eventualities. The people struck by the calamity won’t be able to build up their destroyed properties.  

Second, if the Climate Change is possible, why aren’t we getting a kind of insurance against such a eventuality? Just because the insurance companies cannot issue such policies? Because the best insurance against the Climate Change would be prevention and not the compensation after the happening.  

The spirit is the same, to avert future hardship. Never mind, whether it is prophylactic or retroactive!

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  6. Jasmine Jackson

    hi. so my government class ia having this political party project and partially of the project is to get someone famous to attend our rally and have them speak there. Im the Vice President of my party (Green Party) and i would love for you to let me know if you are willing to do this voluntarly. please and thank you. And have a nice day.

    • Admin (Max)

      Dear Jasmine,
      I’m sorry, I would really like to attend your rally but I have a busy schedule and I can’t leave my work here. Perhaps another time.
      All the best,

  7. Mark Wilson

    Good post. Enjoyed reading it.

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