Here is the risk of nonaction quantified:
Because of climate change, “insurers are facing higher property and casualty insurance losses, which ultimately leads to higher costs to consumers and businesses,” the report notes. “Climate change and a rise in extreme weather-related events could increase losses in the future.”
Global mean surface temperatures have gone up by 0.6 degrees Celsius since 1951. The American Academy of Actuaries report put the total number of global natural loss events in 2014 at 980 with overall losses estimated at $110 billion. They claimed 7,700 lives. In 2014, from May 18-23, severe storms did $2.9 billion damage; severe winter damage, $1.7 billion from Jan. 5-8; and severe warmer weather damage from June 3-5, $1.3 billion.
Seven of the 10 warmest years on record in the contiguous 48 states have occurred since 1990, and the fraction of global land experiencing blistering summer temperatures has risen 10-fold in the last 50 years.
North America is particularly threatened by climate change: “Over the past three decades, the number of weather-related loss events in North America grew by a factor of five, according to a 2012 report by Munich Re. This compares with a four-fold increase in Asia, 2.5 in Africa, two in Europe, and 1.5 in South America. North America faces every type of hazardous weather risk — hurricanes, tornadoes, drought, flood, wildfire and storms, according to the report. One
reason is that no east-west mountain range exists in North America to prevent southern warm air from colliding with cold Canadian weather fronts.”
The National Oceanic and Atmospheric Administration reports that number of weather-related events with losses exceeding $1 billion nearly doubled, rising from 80 between 2004 and 2013 compared with only 46 events in the previous decade.
http://www.kansascity.com/opinion/op...e18690846.html