Litigiousness, risk taking and modern life
Even the Wizard of Omaha hedges his bets when it comes to global warming.
At the Berkshire Hathway annual conference in Omaha, Nebraska, last weekend, Chairman Warren Buffet said that the risk of global warming causing more frequenct and severe hurricanes means that the company’s reinsurance subsdiary will charge more for the coverage in the future, reports MarketWatch.com
“On balance it’s probably getting more negative for us and we have to be careful. It would be crazy to offer catastrophe reinsurance at the same rate in 2007 as we did in 2006,” said Mr. Buffett, whose reinsurance operations are among the leading writers of property catastrophe reinsurance.
Fill in your details below or click an icon to log in:
You are commenting using your WordPress.com account. ( Log Out / Change )
You are commenting using your Twitter account. ( Log Out / Change )
You are commenting using your Facebook account. ( Log Out / Change )
Connecting to %s
Notify me of follow-up comments via email.
Theme: K2-lite by k2 team. Blog at WordPress.com. RSS Entries and RSS Comments
Get every new post delivered to your Inbox.
0 Responses to “Forecast: Warm, breezy and costly”