Lloyds of London: Climate change is a fact, not a theory

NEW YORK (Reuters) - Lloyd's of London, the world's oldest insurer, offered a gloomy forecast of floods, droughts and disastrous storms over the next 50 years in a recently published report on impending climate changes.

"These things are fact, not hypothesis," said Wendy Baker, the president of Lloyd's America in an interview on Monday. "You don't have to be a believer in global warming to recognize the climate is changing. The industry has to get ready for the changes that are coming."