For several years, promoters of catastrophic-manmade-global-warming-by-CO2 hysteria have sought to get the insurance industry to recognize that ‘climate change is real.’
Two years ago, on-again,-off-again-world’s-richest-man Warren Buffett, the chairman of Berkshire-Hathaway (which owns or controls several large insurers including Geico) authored a statement on the subject in his annual investment letter. Buffet noted that most insurance policies are for 1-year terms and that the insurance industry will surely be able to adjust its premiums to address any alleged problems posed by future climate change.
(By the way, climate-related property damage, deaths, and insurance claims (per capita, adjusted for inflation) have been going steadily DOWN for years, while atmospheric CO2 levels have steadily increased.) Crop yields have been going steadily up; crop losses from weather (adjusted for inflation and per-capita) have gone steadily down.)
Buffett’s letter enraged the apocalypticists, who generally demand that the world become socialist to address the allegedly looming threat of manmade global warming.
Now climate-change apocalypticists are demanding that state insurance regulators impose rules upon the industry forcing the industry to pay for “green energy” schemes. Such impositions will of course be passed on to consumers who pay the premiums.
California’s State Insurance Commissioner is said to be mulling just such a new rule.