Market, Politicians Going Separate Ways on Climate Change: View

Hurricane Irene’s residue is likely to include a confusing debate over whether insurers or property owners are responsible for storm-caused water damage. There’s no lack of clarity, however, over whether the insurance industry believes in climate change and its ties to lethal weather: It does.

As Bloomberg Businessweek reports in its Sept. 5 issue, the industry has absorbed many lessons from Sept. 11 about anticipating risk. One is that the recent spate of weather extremes is likely to continue -- and the insurance market must reflect that.