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- Extreme Heat Is the Biggest Threat to Insurers and Businesses
Extreme heat is also a growing risk to financial markets and insurers’ assets, the report suggests The industry's investments have reaped it billions of dollars in profit even as it pays more
- Extreme heat: the insurance fallouts | Swiss Re
2 With temperatures rising, so too is the incidence of extreme heat events (ie, temperatures hotter than the 90% percentile of those locally recorded) During June 2023-April 2024, there were 76 heat waves in 90 countries 3 More than 6 billion people (about 78% of the global population) experienced at least 31 days of extreme heat Since 1991
- Insurance Faces Triple Threat From Climate and Environmental . . .
During the period from June 2023 to April 2024, 76 heat waves occurred across 90 countries, exposing more than 6 billion people to at least 31 days of extreme heat conditions, according to the report The frequency of heat waves in the U S has steadily increased from an average of two per year to six per year during the 2010s and 2020s
- Extreme Heat: Insurance Industry’s New Systemic Risk
Swiss Re notes that extreme heat events are now more deadly than floods, earthquakes, and hurricanes combined, with up to 500,000 deaths globally each year attributed to this invisible peril The financial toll is equally staggering—insured losses from wildfires linked to extreme heat reached $78 5 billion between 2015 and 2024, a figure that
- Insurers Want Businesses to Wake Up to Costs of Extreme Heat
Swiss Re has identified extreme heat as a significant insurance threat in its latest annual report on emerging risks with the Zurich-based reinsurer noting that up to half a million people globally die from extreme heat effects each year The death toll exceeds the combined impact of floods, earthquakes and hurricanes
- Too hot to insure: Climate change pushing insurability to . . .
Too many people are forced to choose between paying more for the same insurance, accepting lesser coverage to keep premiums manageable or letting their insurance lapse Continuing to ratchet up insurance premiums to keep up with mounting losses from hurricanes, wildfires and other perils might make financial sense, but it is also indicative of
- Insuring extreme heat: navigating risks in a warming world
Insurers, operating across life, health, property and agriculture, are directly exposed to extreme heat’s ripple effects – ranging from infrastructure damage and crop failure to rising mortality and morbidity
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