Climate Change Tops Insurers’ Worries With War Close Behind
- Geopolitical instability becomes insurers’ second main worry
- Energy-linked risks are now insurers’ fourth biggest concern
Firefighters battle flames after a structure burned during the Fairview Fire in Hemet, California, on Sept. 5.
Photographer: Eric Thayer/BloombergThis article is for subscribers only.
Climate change remains at the top of insurance companies’ biggest concerns even as Russia’s invasion of Ukraine stokes geopolitical and energy-related fears within the industry.
Global warming is considered as the biggest risk to society in the next five to 10 years for the second year in a row, according to a report released Sunday by French insurance giant AXA SA. Geopolitical instability, which ranked fourth last year, has risen to second place.