Why You Should Be Concerned About Climate Change- Insurance!
Why You Should Be Concerned About Climate Change- Insurance! Some effects of climate change such as mass extinction of hundreds of plants and animals across the globe, and displacement of hundreds of thousands of refugees migrating to higher and dryer land seem like far away consequences. But there is a much more immediate threat to all of us: insurance affordability. Climate change is about to make your insurance rates go through the roof, and it’s already happening! The effects of climate change are stronger and more immediate than ever. With increasing frequency of natural disasters that result in the destruction of properties and businesses now hitting record-breaking rates, insurers can no longer wish them away as individual catastrophic events. 2020 was the fifth costliest year for the insurance industry in 40 years. According to a 2021 report released by Munich RE, one of the world’s leading providers of reinsurance and insurance-related risk solutions, global disasters exacer
