Insurance Companies Getting Very Concerned About Climate Change (Again)

Record-breaking weather disasters will be the name of the game this century. We’ve seen dozens, if not hundreds, of broken climate disaster records since 2000, but we haven’t seen anything yet, as they say. The coming decades will see superstorms, massive fires, droughts like those on Mars, biblical floods and who knows what else? That’s enough to turn off a psychologically sane person and send them looking for YouTube cat videos. (Actually, are cat videos still a big deal?)

However, the insurance industry cannot afford to block these things. The insurance industry has to go deeper, predict what’s to come, make sophisticated calculations and put a price on risk – plus a good profit margin, of course. Insurers need to estimate with some precision how much they will have to pay to repair or rebuild homes, businesses and entire cities demolished by hurricanes greater than any human being has ever seen, by floods that go far beyond flood levels of “100 years” every a few years, by forest fires that destroy cities and towns (even the so-called “Paradise” and “Malibu”), and by other unpredictable “natural” disasters. It’s enough to cause heartburn in a person.

“Climate change has overcome insurers’ concerns about disease and pandemics, according to a new report released yesterday by French insurer AXA,” he said. Nexus Media he writes. “The report, which interviewed 3,500 insurance professionals, showed that global warming was number one among the biggest concerns for insurers.” You did not say?

“Weather risks have been on insurers’ radars for some time: climate concern was also at the top of the survey in 2018 and 2019, but the recent IPCC report illustrated how widespread and destructive climate disasters already are and will continue to be if the world not rapidly reduce fossil fuel combustion while increasing global resilience and adaptation efforts. The survey also found that more than four-fifths of professionals surveyed have no faith in governments to fight the crisis. ” The only thing surprising to me is that one-fifth of these professionals think governments will do whatever it takes. But again, what percentage of people who will not be vaccinated for COVID-19 are willing to try horse dewormer they bought from Amazon and don’t understand that the person receiving the most votes in US history is now the righteous and legal president from United States? If 2020 and 2021 showed us anything, they showed us that humans can be especially talented at detaching themselves from reality.

The safe angle of the growing climate crisis seems to be one of the biggest stories to cover and delve into, but it is rarely mentioned – including here in CleanTechnica, where our focus is on the interlinked climate and pollution crises and all good solutions to these crises. In the coming months, we will go deeper into this topic and perhaps generate a report from us on it. If you have key features or ideas to share, please post them in the comments on this article or via our contact form if you prefer to share privately.

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