On October 5, 2009
Insurers Love New Hurricane Study
Insurance companies say they are only a hurricane away from being obliterated by a killer storm producing thousands of claims, and need to charge higher rates in coastal states. No surprise, then, that they’ve embraced a recent study published in Nature — one that found the last decade of Atlantic Ocean hurricane activity was the highest in a thousand years. The study by Penn State climate researcher Michael Mann also says the higher hurricane activity will continue due to high sea levels caused by global warming. The National Science Foundation funded Mann’s research, so critics can’t claim that the insurance industry had a hand in his conclusions. But the rates insurers can charge for homeowners insurance is as much about politics…
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