Global Warming Effects on Singapore
There is a leading global reinsurer, not only believe that the region, the full effects of global warming over the last century sense, but also feel the speed of change is faster than in many other regions. The number of natural disasters seen in Southeast Asia, from floods to earthquakes, has risen sharply from an annual average of 100 in the year 1980 to 300 since the beginning of the millennium. All this leads to devastating losses, both economically and in terms of human life. A major problem in Asia is a lack of disaster preparedness.
For example, governments and businesses may lack insurance coverage. Here in Singapore, an island has historically been separated from the more devastating disasters, including earthquakes, opinions may change when it comes to getting insurance coverage. In this fact that the floods in Singapore (last year), though small in the overall regional context, was an eye-opener as the traditional perception here was that we were somehow immune to natural disasters. For our experience that the floods are the natural disaster insurance industry a chance to review progress. This is not translated into an overnight explosion in business deals, but in any case has raised awareness and giving a conclusion area to prevent soon.