Chart: Climate-risk disclosure trends among U.S.- and non-U.S.-based insurance companies (Source: CDP data per Mills 2009)

I argued in my presentation that climate change is the single greatest risk facing the insurance industry. Ernst & Young’s survey of 70 industry analysts seems to agree with me. As I’ve explained in Science, climate change is a systemic risk not unlike the banking crisis that blindsided almost everyone thanks in no small part to a nasty coctail of undisclosed risks and wishful thinking.

The take away message - only one US insurance peak body (representing mutual insurers) has a political objection to assessing climate change risk. The others (AIA and RAA) have said that: "the very process of assembling climate-disclosure documentation is constructive (not just a compliance exercise) and helps them think through the issues and better assess their risk and their progress towards managing that risk."