Climate change impact greater than insurance industry’s capacity to offset financial risk

Climate change impact - World in water

The affects of a warming planet will prove to be too expensive for coverage alone to keep up, say analysts. The financial risks associated with the climate change impact may become greater than what the insurance industry can cover, according to a new report. Analysts say that the financial risks are growing, from investing into coal-powered plants to the climbing premiums for flood insurance, the expenses are already rising and will continue to do so. That said, the difference that firms can make to control both the risks and the…

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