Climate Changed
Insurers Worry a Financial Crisis May Come From Climate Risks
- Property values may slump as global temperatures increase
- Record costs for disasters in 2017 and 2018 hit insurers
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Insurers are increasingly worried that rising temperatures will lead to a slump in property values that could spark broader financial turmoil.
Those were the conclusions a group run out of the University of Cambridge including some of the world’s biggest insurers. In a report published Friday, ClimateWise said that an increasing catastrophes linked to climate change could triple losses on property investments over the next 30 years.