Twenty years ago, I interviewed Frank Nutter, then and now president of the Reinsurance Assn. of America, on the threat climate change posed to the $2-trillion-plus global property and casualty insurance industry.
"It is clear," he said back then, "that global warming could bankrupt the industry."
But in the two decades since, the industry mostly limited itself to talk, sponsoring innumerable reports on the threat. Now a major insurance company has moved to protect itself, and it may be the most important milestone yet in the struggle to contend with global warming.
FOR THE RECORD: