Climate change and the insurance industry

July 1, 2021 5:35 AM

I am interested in how the insurance industry thinks it is going adapt to climate change.

Mostly looking for long form journalism or books, not speculation about how housing insurance is going to survive these more intense storms/fires. Granted I am assuming that this just means more regulation and higher prices, but I am just curious what the industry is thinking.

posted by aetg to Law & Government (5 answers total)

Not long-form, but the industry's perspective is summarized in the Insurance Information Institute's Background on: Climate change and insurance issues. It links to the Munich Climate Insurance Initiative, the self-described "leading think tank on climate change and insurance."
posted by Mr.Know-it-some at 6:14 AM on July 1, 2021

Horse's mouth: The impact of climate change on the UK insurance sector (Bank of England Prudential Regulation Authority, 2015; PDF)
posted by flabdablet at 6:31 AM on July 1, 2021

State subsidization of insurance instead of private insurance companies.
posted by foxfirefey at 2:36 PM on July 1, 2021

Look up reinsurance as well as insurance
posted by clew at 9:06 PM on July 1, 2021

I know 2 insurance industry professionals/insiders, both stated, at least 15 years ago, that actuaries are building Climate Change into their models. However, I haven't seen any evidence that insurers are lobbying for more responses to Climate Crisis; it's a very conservative industry, rooted in finance.

also, Popular tourist destinations in the most captivating corners of Australia have become no-go zones for insurers following the Black Summer bushfires, forcing pandemic-battered businesses to close or risk everything operating uninsured.
posted by theora55 at 7:02 AM on July 2, 2021