Energy insurers must cope with rising demand
President of the Insurance Information Institute Dr Robert P. Hartwig has warned that despite the recession the global desire for energy remains undimmed, and rising demand for decades to come must be addressed by insurers and power generators.
Dr. Hartwig made his assessment in Prague, at an AEGIS London-hosted energy conference.
With the rapidly rising superpowers of India and China fuelling demand, the need for bolstering the global infrastructure of power generation has never been greater, the doctor stated.
Dr. Hartwig’s suggested bill for Europe alone (over the next 20 years) was US$1.351 trillion.
Nuclear power consumption is forecast to surge by 39.2%, mostly in emerging economies, with electricity being used more (in relative terms) than is presently the case.
Dr. Hartwig also asserted that whilst, globally, carbon dioxide emissions would increase, in Europe the output would be static, decreasing the share of emissions from Europe.
The Catlin Arctic Survey team, supported by Miller Insurance Services Limited, has recently examined the changing chemistry of the oceans due to climate change.
The survey found that Arctic ice has thinned by 40% since 2004, and forecast greater melting by 2014, increasing temperatures in summer months.
Category: Insurance News
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