Exploring Hydrocarbon Depletion
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QUOTE O’ THE DAY
"All we can do is analyze, aggregate, and synthesize bad news.
Puchica wrote:In buying business insurance, we had to assure the liability insurance carrier that we wouldn't engage in a variety of risky activities; our business ventures that had a slightly elevated risk (washing windows, for example) had either to be dropped or spun off. Similarly, we just took out a new homeowners policy; to get any coverage we had to tear out our wood stove, cut down oaks too close to house.
I don't know how they categorize risk, but I imagine they require assurances against risk. For Fukushima, I'm guessing they bought the plant owners assurances that all bases were covered, redundant systems, plant certified to stand up to any foreseeable quake, etc. I'm wondering how AFLAC is doing; I heard a report that a third of Japanese homes have AFLAC insurance. Whether thats casualty, medical or life, that has to be a large unforeseen hit.
Buffett: I believe the odds are good that global warming is serious. There’s enough evidence that it would be foolish to say there’s a 99% chance it isn’t a problem. In this case, you have to build the ark before the rains come. If you have to make a mistake, err on the side of the planet. Build a margin of safety to take care of the only planet we have.
joewp wrote:Munich Re (if not the world's largest re-insurer, in the top 2) has an extensive treatment of climate change here -> Munich Re - Climate Change
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