Insurance Newsnet: Scientists haven't reached a consensus about whether global warming makes hurricanes more frequent and fierce, but that hasn't stopped the insurance industry from raising its defenses -- and its rates. Many coastal property owners in
"I know everybody on the coast is suffering from high insurance rates," said William Baggett, an owner of the oceanfront Blockade Runner hotel in
Officials with the N.C. Rate Bureau, which prepares rate requests for insurance companies, don't specifically blame global warming for more hurricanes. But the insurance rate increase was based on historical records of hurricane strikes, plus scientific data showing increased ocean temperatures in recent years. Some scientists think the warmer waters are fueling more intense hurricanes.
Insurance risk models used to predict hurricane damage and rate requests indicate that the