Climate Related Perils Could Bankrupt Insurers

Climate change is causing natural disasters that the financial services industry must address, a group of the world's biggest banks, insurers and re-insurers warned today. They estimated the cost of financial losses from events such as this summer's devastating floods in central Europe at $150 billion over the next 10 years. [read more]

Gee, climate change might have some negative economic impacts. Who would have thought?