Climate Crisis Threatens to Make Regions Uninsurable, Warns Insurance Industry
By
mooreds
The kind of bagel that ruins lesser bagels for you.
Summary
Top insurers, including Allianz board member Günther Thallinger, warn that the climate crisis could soon render entire regions uninsurable, threatening financial services like mortgages and home insurance. This scenario may leave many unable to afford essential insurance, exacerbating economic challenges.
Key quotes
· 3 pulledTop insurers fear the climate crisis could soon outpace industry solutions, effectively threatening to make entire regions around the world uninsurable.
Günther Thallinger, a board member at Allianz, one of the world's biggest insurers, recently outlined how the world is fast approaching temperature levels where insurers will no longer be able to offer cover for financial services, such as mortgages and investments.
In practice, this scenario implies some may face difficulty being able to afford home insurance cover, which is typically a prerequisite for getting a mortgage.
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