Climate change is hurting insurers

According to the Iran Economist, the report states that insured losses from natural disasters have increased by 250 percent in the last 30 years, and risks such as fires and hurricanes, which are particularly affected by climate change, will further increase insured losses.

Seth Ratchlin, of French IT consulting firm Capchemina, told Reuters that the main risk of insurer disaster in the past was usually from hurricanes in the states of Florida and Texas, but now it is becoming a broader geographical issue and a higher percentage. Affects the ground.

Germany and other parts of Europe were hit by floods in July 2021, with heavy rains flooding Australia’s east coast earlier this year.

More than 30 percent of insurance companies worldwide limit investment in volatile companies, and more than 20 percent limit insurance coverage to volatile companies, the report said.

74% of the insurers interviewed felt that climate change has made it difficult to insure some areas. Areas such as California have seen insurers leave because of the number and severity of forest fires.

More than 4,900 insurance clients in 16 countries were surveyed in January and February 2022 for this report.