Impact of Climate Change Topic of Oct. 4 Chamber Luncheon

Climate change and its impact on the insurance industry will be examined by Anthony Kuczinski, president and CEO of Plainsboro-based Munich Reinsurance America, Inc. at the Princeton Regional Chamber of Commerce’s luncheon on October 4.

Natural catastrophe insured losses in the U.S. totaled $35.9 billion in 2011. One in four businesses in the U.S. that close during a disaster do not reopen. What can companies, and we as individuals, do to mitigate future losses and adapt to a changing climate?

“Whether you accept climate change as a fact or question its causes, it is clear that our weather is becoming more extreme and volatile,” Mr. Kuczinski said. “This trend can effect a company on many levels – from direct property losses caused by floods or windstorms, to the cost of insurance coverage, to the availability and price of commodities.” 

Munich Re has been studying the phenomenon since 1973, anticipating its influence on extreme weather. Munich Re's database shows the number of major weather-related natural catastrophes worldwide has almost tripled since 1980. Kuczinski and his company believe these trends cannot be explained without considering the role of climate change. 

“Climate change is something that impacts all of us,” said Peter Crowley, president and CEO of the Princeton Regional Chamber of Commerce. “Look at the way companies are handling weather disasters from Hurricane Irene right here in the Princeton area to the wildfires in the west; all these things impact the business community.”

Munich Re is one of the leading global reinsurance companies. It operates in all lines of insurance, with around 47,000 employees throughout the world. In 2011 Munich Re topped Newsweek’s Green Rankings, which included the largest publicly traded companies worldwide (the Global 500 list). 

Kuczinski will be speaking at the Princeton Regional Chamber of Commerce’s October Luncheon on Thursday, October 4 at the Princeton Marriott at Forrestal (100 College Road East, Princeton, NJ 08540) from 11:30 a.m. to 1:30 p.m. There will be a short time for networking, followed by a fully-catered lunch and special presentation by Kuczinski.

Members of Leeep, the young professionals program at the Chamber, will be collecting gently used business attire and suits that will be donated to Dress for Success and UIH Family Partners, organizations that promote economic independence in Mercer County women and men, at the beginning of the luncheon. Classic or in current style (3-5 years old) attire including: business suits,  business jackets and blazers, business slacks, business skirts & dresses, business shirts,  business blouses, sweater suits, shoes and accessories, will be accepted. Clothing can be gently used, but must be in clean condition. Please bring donations on hangers.

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