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(From Reinsurance)
Swiss Re is working with the United Nations Development Project (UNDP) and Harvard Medical School's centre for health and the global environment on a research project looking at the costs of global warming.
Over the next two years the initiative will look at the health and economic costs caused by climate change and associated extreme weather events, such as the heatwave in western Europe which caused thousands of deaths this year. At the moment it is estimated that these costs come to $40bn a year, but this is projected to rise to $150bn by 2010.
According to the UNDP, 96% of disaster-related deaths occur in the developing world, but 90% of developing countries lack disaster-related insurance cover. The UNDP is hoping to encourage the growth of insurance companies in these areas.
Swiss Re is using the initiative to study the impact of global warming on human health, ...