Experts: Firms should better analyze information on climate change

06/4/2013 | Bloomberg

Industries need to use better analytical tools that will lead to sound decisions in addressing climate change, according to insurance experts and scientists. Property/casualty insurers are seeking more-effective tools to help determine premiums that accurately reflect risk, said Kyle Beatty of Atmospheric and Environmental Research. Property insurance pricing may not account for the long-term risks of climate change because policies are renewed every year, said Lindene Patton of Zurich Financial Services. "Our industry hasn't figured out the trick to get people to stop building in really risky places," Patton said.

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