Posted On: June 1, 2006, 5:00 pm CDT

Posted By: BWR

Katrina was only a drill for what is to come. Look at any of the legitimate global warming models and we're looking at increased storm intensity from warm surface water temps in the ocean as well as rising oceans. Alaska is melting as is the Antarctic and the rate of melt is increasing at unexpectedly increased rates in recent years.
If you aren't a big enough insurer to do intense diversification and re-insurance you better stay away from the coasts and leave that to the giants of the industry. There seems to be a ridiculous argument about whether this is a natural occurrence or man made (or contributed to) event which seems an absurd place to hang the argument.
Who cares why it is happening, it is happening; the question is how can it be slowed or reversed and how do we, the insurance professionals deal with this issue from an insurance and financial standpoint. It's time to take our heads out of the sand on this issue or get sand in our faces with catastrophic losses and continued lawsuits such as this class-action.