Environmental Disasters On The Increase



2017’s costly climate change-fueled disasters are the ‘new normal,’ warns major reinsurer
As global warming advances, serious environmental disasters are going to increase.  I warned about this two years ago. 



“We have a new normal,” Munich Re’s Ernst Rauch told Reuters. Rauch, who runs the group tracking climate change risks, pointed out that “2017 was not an outlier” in having more than $100 billion in insured losses (see chart below). “We must have on our radar the trend of new magnitudes,” Rauch said.
2017 was a record-breaking year: Climate-related disasters cost the U.S. $300 billion
For the past year, average temperatures for the contiguous United States have been 2.6°F warmer than the 20th century average — an especially noteworthy distinction because 2017 did not have an El Niño episode, which usually gives a temporary boost to global temperatures. This is now the third consecutive year that temperatures across the United States have been above average. Five states — Arizona, Georgia, New Mexico, North Carolina, and South Carolina — all had their warmest year on record.
I'm worried about my insurance company, USAA.  They insure a lot of homes and cars in the Southeast because USAA's clients are mostly military (it's why I have it) and the Southeast States are filled with retired military insured by USAA.  The possibility exists that insurance companies, especially those insuring a lot of homes on coastal properties, may not be able to keep up with claims as seas rise and hurricanes get stronger.  And then where will I be?  If insurance campanies fail to pay attention to global warming, they are in danger of going bankrupt and may be unable to pay claims.  


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