The reality of climate change can no longer be ignored by U.S. policymakers, and coordinated action needs to be taken between government and business for the sake of future generations, the chairman of Lloyd's of London warned today.
"We cannot risk being in denial on catastrophe trends. We urgently need a radical rethinking of public policy, and to build the facts into future planning," Lord Peter Levene, chairman of Lloyds, said in a speech in Washington, D.C., to the World Affairs Council at the National Press Club.
The number of natural catastrophes has doubled since the 1960s, he said. At the same time, insured losses have increased nearly seven-fold, most of them weather related.
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