"Mutually Insured Destruction"

"No one understands risk better than the insurance industry — except, perhaps, the reinsurance industry, the companies that sell insurance to insurers, which also need protection from risk exposure. As the risk managers for the risk managers, reinsurers follow climate change obsessively. A great deal of money is at stake. ..."

"In June of this year, the Geneva Association, an insurance research group, released a report called “Warming of the Oceans and Implications for the (Re)insurance Industry.” It laid out evidence explaining how rising ocean temperatures are changing climate patterns and called for a “paradigm shift” in the way the insurance industry calculates risk."
Maggie Koerth-Baker reports for the New York Times Magazine August 27, 2013.

Source: NY Times, 08/30/2013