Insurance is Doomed


When I was a kid, I remember that the world worried about the coming ice age.  As a young adult, the major extinction threat was global warming.  More recently, the subject of great concern is the rather non-specific threat of climate change.  One symptom common to all of these concerns was the presumption that they each brought about significant increases in meteorological activity.  More hurricanes, more droughts, more tornadoes, more blizzards, more polar vortexes, more scorching heat, more melting polar ice, more floods, more wildfires.

I must confess that I am a climate change agnostic.  Some say that the science is settled… I say, on what?  Is it cooling?  Is it warming?  Is it man-made or natural?  The only constant that I’ve seen in my lifetime is that we have some wild weather swings in both directions.  If you listen to the ice age/global warming/climate change doomsayers that these wild swings are only going to get worse, then the insurance industry is doomed.

As I write this with the outside temperature predicted to threaten record lows this weekend, I find it difficult to fear for the existence of the polar ice cap.  And I think the insurance industry will manage to get by just fine.


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