Tuesday, December 29, 2009

What's Wrong with This Picture?

A large insurance company in Germany says: "Global losses linked to climate change mounting"

"Linked to climate change?" What is the link between insurance company payouts and climate change?

Does this mean more natural disasters are causing insurance companies to pay out more money? No, they admit that 2009 was a light year for hurricanes (they seem to worry a lot about hurricanes), so it can't be that.

Does it mean that higher global temperatures are causing... something unspecified... to encourage more people to make more insurance claims? No, they don't say that.

What they do say is: "Climate change likely has accounted for a significant share of the roughly $1.6 trillion in worldwide weather-related losses since 1980..."

Losses. That means money the insurance company has to pay out. That means more people affected by natural disasters. That means more expensive damage suffered by more people in natural disasters.

That means insurance companies want to blame their losses on climate change so they can blame the government for not doing something about it. That means they want their share of government bailouts.

Climate change... ?

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