Source link : https://earth-news.info/general/why-insurers-are-growing-worried-about-a-future-without-coverage/
As climate change accelerates and global risks multiply, insurers are warning that the world is rapidly approaching a tipping point where certain risks may become uninsurable. In a recent report highlighted by CNBC, industry leaders express growing concern that escalating natural disasters, volatile markets, and unprecedented economic uncertainties could disrupt traditional insurance models, threatening the stability of coverage for individuals and businesses alike. This developing crisis poses significant challenges not only for insurers but also for governments and policyholders worldwide, raising urgent questions about how to manage risk in an increasingly unpredictable future.
Insurers Sound Alarm on Rising Climate Risks Challenging Coverage Models
Insurance companies worldwide are facing an unprecedented challenge as extreme weather events escalate in both frequency and severity. Rising claims linked to hurricanes, wildfires, floods, and heatwaves have strained traditional underwriting models, prompting firms to reconsider their risk assessment frameworks. As per industry insiders, the persistent unpredictability of climate patterns is eroding the reliability of historical data that insurers have long used to price policies effectively. This shift has led to increasing premiums, reduced coverage limits, and in some regions, a complete withdrawal of services-raising concerns about affordability and accessibility for millions of policyholders.
Experts highlight…
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Author : earthnews
Publish date : 2025-08-10 12:33:00
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