Failure to Act on Climate Change Could Make Weather Risks Uninsurable: Swiss Re
Global warming will lead to growing intensity and frequency of severe weather events, rising losses, as well as greater uncertainty in the assessment of these events by the insurance industry, which could make some weather risks uninsurable, according to a report published by Swiss Re.
“Failure to take immediate, tangible action to confront warming temperatures could lead to climate systems reaching irreversible tipping points,” said the sigma report titled “Natural catastrophes in times of economic accumulation and climate change.”