A great deal of individuals fuel the climate change debate by getting involved in either supporting the belief that it has a connection with extreme weather or in contradicting this statement. While someone might be inclined to believe that truth and facts are enough to have people realize that global warming is responsible for extreme weather, the debate still continues with some people arguing in spite of the fact that they know very little about the topic under discussion (Michaels & Balling 1)
The rapid elevation in temperature has created an imbalance making it evident that the phenomenon of global warming is real. The rate at which arctic sea ice is melting is faster than normal which has caused sea levels to rise (Prothero 15)
Global Warming Trends and Impact Global warming refers to the warming of the earth's temperature, in particular oceans and the layer of the atmosphere closest to the planet (Thompson, Lonnie & Gioietta 114)
Global Warming Trends and Impact Global warming refers to the warming of the earth's temperature, in particular oceans and the layer of the atmosphere closest to the planet (Thompson, Lonnie & Gioietta 114). Thus far, the total temperature increase is documented at only about one degree (Weart 43)
Hurricanes and Global Warming The 2005 season saw the largest number (27) of named storms (sustained winds over 17 m s -- 1) and the largest number (14) of hurricanes (sustained winds over 33 m s -- 1), and it was the only year with three category 5 storms (maximum sustained winds over 67 m s -- 1) (Anthes, et al
.when the ice melts, symbolic species such as the polar bear, as well as thousands of others, may become endangered," (Bhattacharya)
This definition clarifies that global warming can be due to various factors, and one of these factors include the greenhouse effect. Greenhouse effect, meanwhile, "is a warming near the Earth's surface that results when the Earth's atmosphere traps the sun's heat" (Gille 407)
Before going to the discussion of the effects of excessive carbon dioxide emissions, it is necessary that this paper will provide background information about carbon dioxide and its effect in the atmosphere. Carbon dioxide (CO2) is a compound that is "odorless, and colorless" in form (Rose 206)
The surface will "re-radiate" the heat from the sun's light back into the atmosphere in the form of infrared (or "long wave" radiation). However, infrared radiations do not easily penetrate beyond the Earth's atmosphere because certain gases, called greenhouse gases, trap these radiations in the atmosphere (Stark 1995)
This greatly plays into how adjustors will set insurance rates. If it is not a certainty that warming is a fact, then insurers will be hard pressed, if forced to back up their premium rates in court, to defend themselves (Allen, Seaman & Delascio, 2009)
If it is not a certainty that warming is a fact, then insurers will be hard pressed, if forced to back up their premium rates in court, to defend themselves (Allen, Seaman & Delascio, 2009). The risks that people will take are also regulated by the cost of the investment, and whether they can be insured for it (Burt, Carlson, Kucera & Massie, 2009)
Warming Impacts How Global Warming Impacts Commercial Insurers People assume that every person on earth is in danger due to global warming, but what companies and industries have the greatest financial risk? And, which industry will have to assume the risk that others disregarded? Of course, the obvious answer is the insurance industry. Insurance is the gamble by a financier (or underwriter) against the risks that endanger any purchase or venture (Cummins & Venard, 2008)
The world food supply is presently in danger because "the uncontrollable elements of the climate can make or break even the most carefully controlled farming operation (Reilly, 2002). The incidence of hurricanes, and there intensity is increasing (Mank, 2005); individuals are building on flood plains and coastal regions at a greater rate (Fershee, 2009); and, health concerns have become one of the unsung elements of global warming (Friedman, 2005)
The world food supply is presently in danger because "the uncontrollable elements of the climate can make or break even the most carefully controlled farming operation (Reilly, 2002). The incidence of hurricanes, and there intensity is increasing (Mank, 2005); individuals are building on flood plains and coastal regions at a greater rate (Fershee, 2009); and, health concerns have become one of the unsung elements of global warming (Friedman, 2005)
People who build houses too close to a tidal region are risk averse because they can buy subsidized by the government (Litan, 2006). People have sued the United States government because "plaintiffs alleged that the oil and gas industry, naming specific companies, had caused all the property damage in Mississippi, because their operations resulted in emissions of greenhouse gases and caused global warming, which caused the hurricane winds to be stronger and the storm surge to be greater than it otherwise would have (Geary, 2007)
However, because of the money to be made and the costs associated others will incur some of the cost also (Dorman, Duchen & Markus, 1999; Jagers & Stripple, 2003). This investigation will, in part, determine what the role of insurance providers will be in the event of a global warming crisis, and whether they are better equipped to deal with these events or if it could be bettered assigned to a global government structure (Jagers & Stripple, 2003), or some conglomerate of commercial insurers, "investment bankers, Internet companies offering financial services, and specialist risk consultants" (Dorman, Duchen & Markus, 1999)
Understanding what global warming threats entail and how they can adversely affect the insurance industry's ability to provide the funds to secure risk is a crucial present and future occupation. The insurance industry may be the most significant deterrent against the costs that are to be incurred by the possible deleterious environmental effects of global warming (Litan, 2006)
The world food supply is presently in danger because "the uncontrollable elements of the climate can make or break even the most carefully controlled farming operation (Reilly, 2002). The incidence of hurricanes, and there intensity is increasing (Mank, 2005); individuals are building on flood plains and coastal regions at a greater rate (Fershee, 2009); and, health concerns have become one of the unsung elements of global warming (Friedman, 2005)
These companies are attempting to avoid the bankruptcy that may occur due to global warming, and precedent has already shown that "the insured's bankruptcy or insolvency was not to reduce the insurer's obligation (Manilof, Mayerson & Stempel, 2006). Also, governments who back many of the risky ventures for their citizens may take a second look at what is happening and reassess what they are willing to fund (Moeller, 2006)
The sea level is increasing every year, and has been for at least the past two decades (Stone, 1992). The world food supply is presently in danger because "the uncontrollable elements of the climate can make or break even the most carefully controlled farming operation (Reilly, 2002)