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TALLAHASSEE- Florida Chief Financial Officer Alex Sink announced today
that her office has been invited by Keith Allan, Her Majesty's Consul
General of Miami, to meet with British leaders in London in early
November.
During her visit, which is sponsored by the British Government, the CFO
will meet with representatives of the United Kingdom and the City of
London to understand their success in confronting the challenges
presented by climate change in the finance and investment sectors. CFO
Sink will also meet with experts at the London School of Economics and
the Royal Bank of Scotland to learn how climate change presents both
insurance and financial risks as well as investment opportunities for
Florida. The CFO will also visit the London office of Enterprise
Florida.
While abroad, CFO Sink will meet with Lloyd's of London to discuss the
Florida Hurricane Catastrophe Fund and the impact that private
reinsurance has in Florida's property insurance market. According to
Lloyd's, "The issue of climate change will be vital to the future of the
insurance industry. Since the 1960s the number of natural catastrophes
has doubled and insured losses increased nearly seven-fold...we must
engage better together and that means insurers, business and government
working together."
"With 1200 miles of coastline, Florida is one of the most vulnerable
states to the effects of climate change and rising sea levels. It is
essential that Florida is prepared for all the challenges -- and as
Florida's Chief Financial Officer I am specifically aware of the
challenges to our insurance and financial markets," said CFO Sink, who
oversees the Department of Financial Services. "London is the epicenter
of the world's global financial and reinsurance markets and the United
Kingdom is an international leader in analyzing and combating the
financial risks of climate change. Florida can benefit from our shared
partnership."
In April 2007, Consul-General Allan presented the United Kingdom's
international perspective on climate change at the Florida Cabinet's
first Climate Change workshop sponsored by CFO Sink and Agriculture
Commissioner Charles Bronson.
"Action to address the global impact of climate change is a top
international priority for the British Government. We have been hugely
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