Insurers Sound the Alarm on Climate Change

By Fiona Harvey, Environment Correspondent
Published: June 28 2005 22:31 | Last updated: June 28 2005 22:31

The cost worldwide of storms, expected to become more frequent owing to climate change, is likely to rise by two-thirds to £15bn ($27bn, €22bn) a year in the next seven decades, the Association of British Insurers will warn on Wednesday.

Nick Starling, the ABI's director of general insurance, urged the leaders of the Group of Eight industrialised nations to take action on greenhouse gas emissions when they meet to discuss climate change next week.