Climate Change Could Make World “Uninsurable”
Although there are some folks who remain skeptical of Climate Change, the folks who make a living insuring us are not. Many more insurers are seeing such significant destruction (that would not be the case if the climate were not changing), that they are expressing significant concerns going forward.
Insurance Australia Group (IAG) Executive Jacki Johnson told the Financial Review, “The insurance industry will be unable to operate effectively if the current trajectory of climate change proves accurate.” See the full article here: https://www.reinsurancene.ws/iag-says-climate-change-could-make-world-uninsurable-financial-review/
A recent Wall Street article makes the same claim. “We don’t discuss the question anymore of, ‘Is there climate change,’” says Torsten Jeworrek, chief executive for reinsurance at Munich Re, the world’s largest seller of reinsurance—insurance for insurers. See the full article here: https://www.wsj.com/graphics/climate-change-forcing-insurance-industry-recalculate/