Insurers are coming off some of their worst years in history with the past decade of global natural catastrophes the costliest ever. Climate change has made it harder for insurers to measure their risks, pushing some to demand even higher premiums to cushion against future losses. As storms and other disruptions become more frequent, the adaptive capacities of even developed nations could be overwhelmed with large areas and sectors uninsurable. Major investments could collapse and markets crash.
Bill McKibben On Global Heating, Capitalism, Insurance, And Social Friction