Germany’s English-language online news site The Local here also features Spiegel’s report on weather extreme hype by reinsurer Munich RE.
Munich RE has no proof, scientists claim. Fears based on quasi science. (Graphic source: http://en.wikipedia/Munich_Re
The local writes:
Scientists decry insurer’s extreme weather claims
German insurance companies stand accused of putting the wind up American policy holders and profiteering from climate change scare stories based on their own quasi-scientific reports Der Spiegel reported on Thursday.
[…] scientists are furious, saying the insurance company has no proof to support the claim. “Most [of the study] doesn’t make sense, and it contradicts observations,” atmosphere researcher Clifford Mass from University of Washington in Seattle told the magazine.
The PIK and Munich RE working hand-in-hand
Readers may ask just where is Munich RE getting it’s “science”? Well, here’s one report it used in the past…written by Stefan Rahmstorf of the Potsdam Institute for Climate Impact Research. Science in the service of Big Bilkers scaring clients.
Warren Buffet and the Munich RE
According to Wikipedia, last year Munich RE equity amounted to €23.0 billion. The group’s premium income for the year (gross premiums written) was €45.5 billion, with its consolidated profit amounting to €2.430 billion. In February 2010, U.S. investor Warren Buffett became Munich Re’s largest single shareholder with 10.2 percent of the company.
Munich RE even approved using the WTC attack to spread climate fear
Just look at the following video (in German) at the 5:20 mark. Munich RE managing director Thomas Loster uses terror attacks to promote climate fear among schoolchildren:
I think it’s okay for one to take what is impossible and to imagine it. As is the case with the World Trade Center attack, one has to think of the unthinkable in order to understand the world.”
One has to think of the unthinkable to scare people into paying higher premiums. Once again the little guy gets the shaft.
I just found out I’m a customer of Ergo – owned by Munich RE. I’ll have to think about cancelling that policy.
Biggest inverter maker of Germany, SMA Solar, hits all time low due to declining revenue.
http://www.comdirect.de/inf/aktien/detail/chart.html?rn=0&timeSpan=5Y&ID_NOTATION=23438170
Interesting chart. SMA shares peaked when Obama was elected, and then tumbled to a record low after having been President for 4 years.
This one is more extreme in that regard. A123, US makers of Li Ion batteries, just filed for bankruptcy.
http://www.comdirect.de/inf/aktien/detail/uebersicht.html?ID_NOTATION=30970610
IPO under Obama and all the way down to zero in one term.
Pielke Jr. reported in 2010 of a newspaper investigation which revealed that predictions of increased hurricane damage resulted in a $82 billion (billion, no typo) windfall to the reinsurance industry.
http://rogerpielkejr.blogspot.com/2010/11/82-billion-prediction.html
There is big money in climate alarmism.
Oh, by the way, since the alarmist “study,” there has been no US landfalls of extreme hurricanes.