Munich Re, world’s largest reinsurance firm, warns premium rises could become social issue
Insurers have warned that climate change could make affordable cover for ordinary people unaffordable after the world’s largest reinsurance firm blamed global warming for $24bn (£18bn) of losses in the Californian wildfires.
Ernst Rauch, Munich Re’s chief climatologist, told the Guardian that the costs could soon be widely felt, with premium rises already under discussion with clients holding asset concentrations in vulnerable parts of the state.
Original Title: Climate change could make insurance too expensive for ordinary people – report
Full Text of the Original Article: https://www.theguardian.com/environment/2019/mar/21/climate-change-could-make-insurance-too-expensive-for-ordinary-people-report