ABSTRACT
Although not all scientists agree that climate change is responsible for recent extreme weather trends, most scientists believe that climate change is probably more responsible than not for increased catastrophes caused by extreme weather (Intergovernmental Panel on Climate Change 2007; Oreskes 2007 ; Hecht 2008 ; US Government Accountability Offi ce 2007 ). 2 A 2006 report by the United Nations Framework Convention on Climate Change (UNFCCC) argued that by 2040 it is likely that the damage resulting from climate change might be as high as $1 trillion annually (United Nations Environment Programme Finance Initiative Climate Change Working Group 2006 ; Faure 2007 ). 3 American International Group (AIG), Swiss Re, Lloyd’s of London, and other leading insurers all identify climate change as a major threat for global risk management (AIG 2009 ; Swiss Re 2008 ).
