THEY PAY FOR CLIMATE CHANGE

The Costs of Climate Change and Extreme Weather Are Passing the High-Water Mark; Hurricane Sandy made it clear: as the climate warms, population grows and sea level rises, extreme weather will hurt more. That's why we need to fix flood insurance

Bryan Walsh, July 17, 2013 (Time)

"Hurricane Sandy cost the U.S. some $70 billion in direct damages and lost economic output…Much of that cost was borne by the government — local, state and federal — and some of it was absorbed by those of us who lived in the storm’s path. But about $20 billion to $25 billion of the damage from the storm was eventually covered by the insurance industry. Much of that bill in turn was covered by the big reinsurers, the companies that take on insurance policies from primary insurance companies looking to spread out their risk. And if you were an insurance company affected by Sandy, you better hope you had a reinsurer behind you…” click here for more

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