Lloyds, Insurance and Climate Change

High sea temperatures are a key ingredient in wind storms, and sea water temperature has risen recently by between 0.2C and 0.6C. That means more Katrinas, polar ice cap melting, and a threat to insurable business in coastal areas around the world. Lloyds of London's director, Rolf Tolle, recently said that:

"It's clear that the insurance industry has not taken catastrophe trends seriously enough. Climate change is today's problem not tomorrow's. If we don't take action now to understand the changing nature of our planet, we will face extinction."

Pretty strong stuff.