Industry should consider consequences of severe space weather event:
The insurance and reinsurance industries should begin to consider the potential consequences of a severe space weather event, says global reinsurance company Aon Benfield.
A UN plan to upgrade ``space weather'' forecasts can help the world cope with solar storms that might wreak up to $2 trillion in damage if the sun repeated a giant flare of 1859, experts said.The sun is entering a more active phase due to peak in 2013 on a roughly 11-year sunspot cycle, the World Meteorological Organization said.