An article written by OBPI Chief Underwriting Officer John Chace was recently featured in Insurance Thought Leadership, an online publication providing insurance-industry expertise.
John’s article, “Grave Threat to the Electric Grid and the Internet,” discusses the dangers of severe solar storms known as a Carrington Event. According to physicists, the Earth is overdue to experience a Carrington Event, which could devastate the world’s power grids and satellites, and cause serious damage to our telecommunications systems and GPS.
Such a disruption would have huge implications for the insurance industry. “If businesses, public services and households are without power for a long period of time, insurers may be exposed to unprecedented claims,” writes John. “Those of us who rely on power and telecommunications should consider space weather scenarios and start planning for them.” Read the full article>>