Is it me, or is there a growing trend of insurers and reinsurers partnering with environmental groups? This union would have seemed outrageous not too long ago, but now it makes perfect sense. In fact, it reminds me of another alliance taking placebetween environmentalists and hunters. Both groups enjoy the outdoors and are interested in preserving wildlife and habitat. Who knew?
A few years back, Allianz teamed up with the World Wildlife Fund, which formed the Climate Action Partnership. This melds WWFs scientists and staff with the insurers risk management expertise.
Earlier this month I wrote about the Reinsurance Association of America partnering with diverse interest groups to create the Americans for Smart Natural Catastrophe Policy Coalitionits purpose is to promote safe, environmentally responsible, fiscally-sound approaches to natural catastrophe policy.
The coalitions diverse membership includes: American Rivers, Defenders of Wildlife, Environmental Defense Fund, Friends of the Earth, National Wildlife Federation, Republicans for Environmental Protection, Association of Bermuda Insurers and Reinsurers, American Consumer Institute, Americans for Prosperity, Competitive Enterprise Institute, Council for Citizens Against Government Waste, and the National Association of Professional Insurance Agents.
These and other partnerships make perfect sense, as these parties have a vested interest in mitigating catastrophic risk. Insurers, with much at stake, know that environmental scientists have decades of experience with climate change and other issues. Working with these scientists can multiply insurer efforts and impact state and federal policies.
While there are many opinions about the reasons for global warming and climate change, its reality is well documented. Time-lapse photos of rapidly shrinking ice fields are enough to show that the issue is real and needs to be dealt with. Risk managers, both public and private, cannot help but consider the effects of global warming on their municipalities or companies.
On its Web site, the WWF states that climate control efforts must include a number of actions, including steps to improve emergency preparedness by governments, businesses or other organizations.
My question to risk managers is: What steps are you taking with your organization to address climate change? Do you think what your organization is doing is enough in this area? Most of all, is your organization backing your efforts?
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