‘Parts of world may become uninsurable,’ warns CII report

A scientist has warned that climate change could lead to many parts of the world becoming uninsurable.

Dr Andrew Dlugolecki, author of Coping with Climate Change: Risk and Opportunities for Insurers, a Chartered Insurance Institute report published on Monday, said innovative insurance products could help developing countries.

“Climate change is already a much greater threat than consumers and businesses think,” he said. “For insurers there is the need to cope with new levels of extreme events. For society, the impacts overseas could have huge consequences for us, and could threaten insurability.

“Innovative products could help developing countries deal with climatic problems, and assist businesses everywhere to overcome more variable weather.”