AIG to insure against losses due to climate change

AIG to insure against losses due to climate change
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America Public Media and Fortune are both reporting today that AIG, one of the world’s largest insurers, will shortly announce new insurance products aimed at covering losses due to the effects of climate change.

This echos earlier statements made in a report by Marsh , the world’s largest insurance broker, last spring:

“Climate change – often referred to as ‘global warming’ – is one of the most significant emerging risks facing the world today, presenting tremendous challenges to the environment, to the world economy, and to individual businesses.”

Furthing adding to these concerns was the world’s oldest insurance company, Lloyd’s of London, who, through Director Rolf Tolle, stated:

“Climate change is today’s problem not tomorrow’s. If we don’t take action now to understand the changing nature of our planet we will face extinction.”

This only adds further credence to what the vast majority of climate scientists have been saying for years: climate change is happening and we need start implemeting global solutions. If the oldest and the largest leaders of an industry that arguably employs the most conservative economic risk analysis are on board, how much more of a call-to-action do we need?

Here is a short realplayer audio clip on the announcement.

AIG to insure against losses due to climate change

Kevin is a contributor and strategic adviser to DeSmogBlog.

He runs the digital marketing agency Spake Media House. Named a “Green Hero” by Rolling Stone Magazine and one of the “Top 50 Tweeters” on climate change and environment issues, Kevin has appeared in major news media outlets around the world for his work on digital campaigning.

Kevin has been involved in the public policy arena in both the United States and Canada for more than a decade. For five years he was the managing editor of DeSmogBlog.com. In this role, Kevin’s research into the “climate denial industry” and the right-wing think tank networks was featured in news media articles around the world. He is most well known for his ground-breaking research into David and Charles Koch’s massive financial investments in the Republican and tea party networks.

Kevin is the first person to be designated a “Certified Expert” on the political and community organizing platform NationBuilder.

Prior to DeSmogBlog, Kevin worked in various political and government roles. He was Senior Advisor to the Minister of State for Multiculturalism and a Special Assistant to the Minister of State for Asia Pacific, Foreign Affairs for the Government of Canada. Kevin also worked in various roles in the British Columbia provincial government in the Office of the Premier and the Ministry of Health.

In 2008 Kevin co-founded a groundbreaking new online election tool called Vote for Environment which was later nominated for a World Summit Award in recognition of the world’s best e-Content and innovative ICT applications.

Kevin moved to Washington, DC in 2010 where he worked for two years as the Director of Online Strategy for Greenpeace USA and has since returned to his hometown of Vancouver, Canada.

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