News that you won't likely see elewhere:

Insurance Co. Warns of Global Warming Catastrophe

GENEVA: The world's second-largest reinsurer, Swiss Re, warned today that the costs of natural disasters, aggravated by global warming, threatened to spiral out of control, forcing the human race into a catastrophe of its own making.

In a report revealing how climate change is rising on the corporate agenda, Swiss Re said the economic costs of such disasters threatened to double to $150 billion ($NZ224 billion) a year in 10 years, hitting insurers with $30-40 billion ($NZ45-60 billion) in claims, or the equivalent of one World Trade Centre attack annually.

"There is a danger that human intervention will accelerate and intensify natural climate changes to such a point that it will become impossible to adapt our socio-economic systems in time," Swiss Re said in the report.

"The human race can lead itself into this climatic catastrophe – or it can avert it."

The report comes as a growing number of policy experts warn that the environment is emerging as the security threat of the 21st century, eclipsing terrorism.

Scientists expect global warming to trigger increasingly frequent and violent storms, heat waves, flooding, tornadoes, and cyclones while other areas slip into cold or drought.

"Sea levels will continue to rise, glaciers retreat and snow cover decline," the insurer wrote.

Link to Reuters piece..much more there!

Let that sink in..the financial fallout of one WTC per annum.

Now, what is the most important issue in the 2004 election?

When business starts sounding the alarm concerning global climate change, hopefully governments will stop sitting on their hands. I'm not going to hold my breath. Not just yet.