Tag: Insurance

cyclone gafilo

The Insurance Industry is already hammered by climate change – to punish it with heavy taxes is madness

Posted on Bruce MenziesLeave a commentPosted in Chairman’s Blog

The forthcoming InsiderScope panel discussion ‘Reinsurance: survival tactics in a brutal market’ on 9 May 2017 is timely. The Insurance Industry is being hammered relentlessly by the devastating effects of manmade climate change and the resulting claims payouts. At PAL, we estimate that the percentage increase in insured loss and damage attributable to global warming […]

The Insurance Industry is already hammered by climate change – to punish it with heavy taxes is madness was last modified: June 1st, 2017 by Bruce Menzies

Carbon Pay ® : The Third Way

Posted on adminLeave a commentPosted in Fact Sheet

Carbon Pay ® is a scientific revolution in carbon pricing that identifies and protects against carbon liability. Cap and trade is too cumbersome. Carbon tax is too political. Carbon Pay scientifically formulates the right price of carbon, identifies the revenue payable by corporations and enables them to allocate it to formally approved projects, thereby visibly […]

Carbon Pay ® : The Third Way was last modified: July 18th, 2017 by admin

Fact Sheet: Reinsurance Event Attributed Carbon Tax – REACT

Posted on adminLeave a commentPosted in Fact Sheet

In 2015 Predict Ability Ltd (PAL) introduced the Reinsurance Event Attributed Carbon Tax (REACT) system, which was originally designed to put a price on the financial loss and damage arising from carbon emissions. REACT measures the expected losses that will occur for each tonne of carbon dioxide emitted. Further, it determines the allocation of the […]

Fact Sheet: Reinsurance Event Attributed Carbon Tax – REACT was last modified: April 18th, 2017 by admin

How will global warming impact insurance claims?

Posted on Richard ClarkeLeave a commentPosted in Blog

In Science magazine, one of the leading US research journals, there is a comprehensive overview of the evolving impact of climate change on the insurance industry by Evan Mills[17], a senior scientist at LBNL (Lawrence Berkeley National Laboratory).  Mills is a respected chronicler of the insurance industry’s action on climate change.  One graph stands out. […]

How will global warming impact insurance claims? was last modified: May 12th, 2017 by Richard Clarke
PAL drought

Cost of carbon update for the first half of 2016: Increase in extreme weather drives up the cost of carbon emissions

Posted on Edward CoeLeave a commentPosted in Press Release

The cost of carbon – losses arising from extreme weather events attributable to cumulative causal carbon emission – for 2015 was $12.27 per tonne of carbon dioxide (previous year $12.67, down 3%). For the first half of 2016, the cost has increased to $12.44 on the back of extreme weather events reported by Munich Re […]

Cost of carbon update for the first half of 2016: Increase in extreme weather drives up the cost of carbon emissions was last modified: August 8th, 2017 by Edward Coe

PAL Loss Prediction Review for the first half of 2016

Posted on Edward CoeLeave a commentPosted in Press Release

Losses caused by natural catastrophes in the first half of 2016, as reported by Munich Re recently, were significantly higher than the corresponding figures for the previous year, despite the total number of loss events being significantly lower.  Total losses by the end of June came to US$ 70bn compared to the previous year being […]

PAL Loss Prediction Review for the first half of 2016 was last modified: August 8th, 2017 by Edward Coe
didcot power station, the price of carbon

Twenty Billionth Dollar | Carbon Damage 2016

Posted on Edward CoeLeave a commentPosted in Blog

PAL estimated natural disaster damages attributable to climate change for 2016 so far are   $32,286,000,000   This is based on a carbon global one year carbon price of $22.84 /tCO2 and estimated carbon emissions for 2016 of 39,039,100,000 tCO2. Refer to  the 2015 Carbon Liability Clock for a comparison to what happened in the previous year. Twenty Billionth Dollar […]

Twenty Billionth Dollar | Carbon Damage 2016 was last modified: August 8th, 2017 by Edward Coe

Twenty Billionth Dollar | Carbon Damage 2015

Posted on Edward Coe1 CommentPosted in Blog

PAL estimated natural disaster damages attributable to climate change for 2015 alone were   $41,940,101,558   This was based on a carbon global spot price of $31.78 /tCO2 and estimated carbon emissions for 2015 of 37,612,665,419 tCO2. Twenty Billionth Dollar | Carbon Damage 2015 was last modified: August 8th, 2017 by Edward Coe

Twenty Billionth Dollar | Carbon Damage 2015 was last modified: August 8th, 2017 by Edward Coe

New Publication “An Insurance-Led Response to Climate Change” now available

Posted on adminLeave a commentPosted in Press Release, Publication

An Insurance-Led Response to Climate Change Anthony J. Webster, Richard H. Clarke Climate change is widely expected to increase weather related damage and the insurance claims that result from it. This has the undesirable consequence of increasing insurance costs, in a way that is independent of a customer’s contribution to the causes of climate change. […]

New Publication “An Insurance-Led Response to Climate Change” now available was last modified: December 3rd, 2016 by admin