Tuesday, March 7, 2017

Warren Buffet Doesn't See Increased Weather-Related Insurance Claims

For the last three decades, climate change alarmists have told us that weather-related events -- tornadoes, hurricanes, floods, and droughts -- will only get worse and more intense due to global warming.  The implication is that the world is heading for disaster.

The only problem with that claim, is that liberal billionaire, Warren Buffet and his major insurance underwriting activity, isn't seeing the kind of risks that climate alarmists have been claiming.  In a recent interview with CNBC, he said simply: "I have not seen anything yet that would cause me to change the way we look at evaluating quakes, tornadoes, hurricanes by atmosphere. Now, that may happen some day."

Of course, he's right.  We haven't had a major hurricane hit the U.S. in 4001 days. That's almost 11 years.  Also, last year saw far fewer tornadoes than the average of 1,186 for each of the last 20 years. In fact, 2016's 898 tornadoes was a 24% shortfall from the 20-year average.  But, as noted by the following chart, it wasn't just 2016 that had a low tornado count:

We have had low tornado counts in each of the years since 2011 which, to be fair, had the 3rd highest count in the previous 15 years.  We also have to take into consideration, from Buffet's statement, that we have more people and more densely populated areas.  Yet, he sees no alarm bells on weather-related insurance payouts.

This is merely another example of the lack of climate change activity that the alarmists keep warning us about.


Warren Buffett says global warming is not impacting the way Berkshire writes insurance: http://www.cnbc.com/2017/02/27/warren-buffett-global-warming-not-impacting-berkshires-insurance-biz.html

Major hurricane landfall drought continues: 4001 days and counting in updated Pielke graph: https://wattsupwiththat.com/2016/10/07/major-hurricane-landfall-drought-continues-4001-days-and-counting-in-updated-pielke-graph/

Lack of Tornadoes Continues with Only Five Reported in U.S. Since Mid-October: https://www.wunderground.com/news/lack-of-tornadoes-through-mid-november-2016

U.S. Tornado Count at Its Lowest 3-Year Total Since 1950, and Here's Why: https://weather.com/safety/tornado/news/tornado-count-hits-record-lows

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