Buffett links hurricane insurance to climate
Berkshire Hathaway, the investment group run by Warren Buffett, is pushing up the price of hurricane insurance as a precaution against the possible impact of climate change.
ADVERTISEMENT
Mr Buffett said it remained an open question whether “atmospheric, oceanic or other causal factors have dramatically changed the frequency or intensity of hurricanes” but after the worst quarterly losses in industry history it was prudent to limit exposure.
Berkshire’s insurance subsidiaries lost $3.4bn from the 2005 US hurricane season
