What the insurers are saying on climate change

Comité Européen des Assurances: "Climate change will increase the frequency and severity of extreme weather events, such as floods, storms, and very dry summers. By the 2040s more than half of all European summers are predicted to be warmer than the record-breaking summer of 2003. Annual costs of European flooding could increase by €100-120 billion by the 2080s on top of the €6.5-8 billion paid today.

Allianz AG: "We won't be able to prevent climate change from happening. After all, it is already taking place. But insurers have a vested interest in not just planning for "what if" scenarios, but in addressing the root cause of global warming - heat-trapping greenhouse gas pollution."

That's why Allianz is investing in clean energy and cutting our own emissions significantly. Fireman's Fund, one of our subsidiaries plans to introduce commercial insurance policies designed to support and encourage "green" energy efficient buildings that cut customer's energy bills, as well as the pollution that causes global warming.Munich Re Group:

"Munich Re has long been warning that increasing global warming will be accompanied by extraordinary weather-related natural catastrophes and explaining why there is a likelihood of greater loss potentials. The company's fears were confirmed in 2005."

Association of British Insurers "Managing the effects of climate change is a key issue for the 21st Century. Governments now have a chance to make rational choices for the future, before it is too late. Making the right decisions based on first class assessment of the financial costs of climate change will ensure lower costs for the public in future."

Swiss Re: "In coming years, the world of insurance and reinsurance will have to face a new challenge: developing and implementing strategies and business solutions to deal with climate change and a carbon-constrained future."