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Climate Change Will Raise Property Insurance Premiums Beyond Peoples’ Ability to Pay
Insurers have warned that climate change will make coverage for ordinary people unaffordable after Munich Re, the world’s largest reinsurance firm, blamed global warming for $24bn of losses in the Californian wildfires. Read the entire article at The Guardian. Ernst Rauch, Munich Re’s chief climatologist, told the Guardian that the costs could soon be […]
Insurance Industry Increasingly Concerned about Climate Risks
Major insurance carrier AXA has been surveying risk professionals for five years on their key emerging risks. Climate change has always ranked high. But this year’s survey produced a stunning result: of the 1,235 risk professionals, including 1,060 AXA employees all over the globe, the percentage of respondents pointing to climate change as their key concern rocketed up […]
Insurance Industry Affected by Climate Change and Increasing Natural Disasters
The consequences of climate change are diverse and are affecting the insurance industry. The physical changes, in other words regional changes in weather patterns in terms of frequency and extent, are one of the consequences of great relevance to reinsurance. Extreme weather events result in high material damage to buildings and infrastructure, as well as […]
