The newest climate change true believers? Insurance companies

By Felicity Duncan.There are people out there who refuse to believe in climate change. Despite mounds of evidence and a general scientific consensus, they maintain the whole thing is a hoax. But one group can't pretend to ignore reality: insurance companies..Insurance companies charge premiums based on risk models. Risk models estimate the likelihood of events ranging from early deaths for individuals to catastrophic floods and fires in cities. Unfortunately, in the last few years, their models have proven woefully inadequate as so-called 100-year floods happen annually and wildfires grow to sizes never before imagined..___STEADY_PAYWALL___.And so, insurance companies are in the vanguard of the latest thing: putting a price on climate change. Homeowners and business owners around the world are soon going to see the price of climate change in their annual insurance premiums, and it is unlikely to be pretty..In Premium today, you can listen to Ricco Friedrich of Denker Capital discuss Burger King's terrible year in South Africa. You get all the latest on Athol Trollip's battle to be mayor of Nelson Mandela Bay and you can also get the details – good and bad – of Tesla's Q3 production update.

The newest climate change true believers? Insurance companies

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