Insurance Industry Bracing For Impact From UN Climate Change Report

The recently published UN climate change report has increased concern in the insurance industry, which is watching the heightened risk predictions.

The UN climate change report pointed to increased instances and severity of wildfires, storms, droughts and sea levels that threaten coastal cities.

Following this year’s record-breaking wildfires and droughts – with the Atlantic storm season only halfway through – it is far from difficult to believe the United Nations’ heightened warnings.

The Intergovernmental Panel on Climate Change report has increased existing concerns among reinsurance and insurance companies that are faced with decisions regarding the nature and size of coverage they will be able to afford to sell as natural disasters worsen.