Insurers Are Suffering Major Losses Due To Climate Change ...Middle East

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Insurers Are Suffering Major Losses Due To Climate Change
source : OILPRICE ( Middle East ) () 21
Insurers are now suffering 3.6 times more losses from natural catastrophes than they were three decades ago, according to new research, which suggests insurance companies are being hit by the impacts of climate change. Natural catastrophe events are costing insurers around the world 250 percent more than they were 30 years ago, due to an increase in events such as flooding, storms, and wildfires. In 2021 alone, storms in the US cost insurers $60bn, while floods in Germany cost $9bn and wildfires in Australia cost insurance firms another $63bn.…

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