- Insurers are withdrawing coverage for climate-driven risks and passing on losses to governments and homeowners, according to a report by Inside Track.
- The report says some of the retreat "has already begun and will now accelerate", resulting in "an increase in uninsured losses for which someone else will have to pay the price”.
- There are concerns that risks are currently being mispriced, with Lord Nicholas Stern saying "our models have underestimated the danger" and
"that mispriced risk is building to potentially unmanageable levels".
toomuchtodo•59m ago
- Insurers are withdrawing coverage for climate-driven risks and passing on losses to governments and homeowners, according to a report by Inside Track.
- The report says some of the retreat "has already begun and will now accelerate", resulting in "an increase in uninsured losses for which someone else will have to pay the price”.
- There are concerns that risks are currently being mispriced, with Lord Nicholas Stern saying "our models have underestimated the danger" and "that mispriced risk is building to potentially unmanageable levels".
Memo: https://static1.squarespace.com/static/697b3c8cf1bdde2c6ff1b...