INSURANCE premiums against floods and other disasters are set to rocket because the world’s biggest insurance companies are getting nervous about climate change. Swiss Re, a company that provides insurance for other insurers, warned in a report this week that premium hikes are inevitable.
The big fish of the insurance industry are already alarmed about the rising tide of large claims for climatic disasters such as floods, hurricanes and heatwaves, which between them have caused damage estimated at half a trillion dollars over the past decade. “The number of really big weather disasters has increased fourfold compared to the 1960s,”…
