Extreme weather - reinsurance profiteering ($82 billion (billion!) windfall to the reinsurance industry)

Since Monday's debate is to be in Florida, it might be worth a revisit to a Florida newspaper's investigation which revealed an insurance organization hosted a "study" which predicted increased hurricane damage, resulting in a $82 billion (billion!) windfall to the reinsurance industry.

The reality is that no hurricanes have hit Florida since 2005, the year of the "study" which predicted more hurricanes.  [Via DB]

Roger Pielke Jr.'s Blog: The $82 Billion Prediction

The Sarasota Herald-Tribune has an revealing article today about the creation in 2006 of a "short-term" hurricane risk prediction from a company called Risk Management Solutions. The Herald-Tribune reports that the prediction was worth $82 billion to the reinsurance industry. It was created in just 4 hours by 4 hurricane experts, none of whom apparently informed of the purposes to which their expertise was to be put.