CAN RISKS OF GLOBAL WARMING BE INSURED?
The most important problem of the developing world is global warming. While the risks of global warming are threatening mankind and the business world, new opening outs are coming from the insurance world for the compensation of risks these risks may bring along. For example, as to a pilot project being started in Ethiopia the World Food Program signed a policy with Axa Re against the supports provided by the USA and the other countries. As to this, Axa Re will make a payment of 7 Million Dollars against a policy of 930 Thousand Dollars, if the rains in Ethopia fall below a certain quantity.
Furthermore, Bursagaz having 505 Thousand subscribers has been insured by the Swiss insurance company Swissre against global warming. Bursagaz being among the Çalık Holding Enerji Group companies will receive compensation, if the air temperature becomes 1 degree than the average of 30 years.
The effects of the global warming are at a stage beyond the forecasted dimensions and the forecasts for the future are revised rapidly. As to Munich Re losses related to climate may reach a total of 1 Trillion Dollars until 2040. Within a short term of 10 years losses of 150 Million are forecasted. Certainly there are works to make profit from global warming. Among these greenhouse gas emissions of the countries and developments of environment policies may be counted. But the savage competition conditions in the world make it difficult to take these measures. In this case, is to use the insurance system in order to protect against risks while risks are there. NART Insurance and Reinsurance Broking Services Inc. is ready to find for you the most right protection methods on the global markets with its new risk management department specialized only in risk management.
News Resources: Hürriyet Newspaper, Mart 19, 2007,Milliyet Newspaper, Şubat 20, 2007 Web Services