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Is the carbon tax a form of insurance?

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Insurance Business | 30 Jul 2012, 12:03 AM Agree 0
The case has been put forward that Australia’s carbon tax is just another form of insurance – paying a premium to protect against a risk. So should the insurance industry be supporting the controversial measure?
  • Robert Cooper | 30 Jul 2012, 02:04 PM Agree 0
    It certainly is an issue for the insurance industry. Climate change will influence premiums in the future. However to say it is a form of insurance may be off the mark. It is certainly a Risk Management issue though.
    I have more information about this here which you may find interesting. The Insurance Industry should certainly be supporting anything to do with reducing climate change.
  • Don Wilkie | 30 Jul 2012, 03:25 PM Agree 0
    Disappointing that Robert Cooper feels that the Insurance Industry "should certainly be supporting anything to do with reducing climate change". Not even those who caused the introduction of the tax on CO2 emissions believe that it will make any measurable difference to the climate of the world, so the only reason for the Insurance Industry to support it would be to increase premium income with no risk of having to pay any claims.
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