Law360, New York (October 3, 2013, 4:51 PM EDT) -- According to recent estimates, the insurance industry paid $77 billion for claims related to natural disasters in 2012. A June 2013 report by The Geneva Association, a leading international think tank for the insurance industry, suggests that this staggering total will only increase in the coming years.
The report considers the effect of global ocean warming on the insurance industry and arrives at one unmistakable conclusion: As the temperature of the earth’s oceans rises, so will insurance claims.
Global climate change and the related increase in...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.