advertisement advertisement advertisement As the impacts of climate change become more extreme and widespread, one of the world’s largest commercial property insurers has a message for building owners: Insurance can’t save you. advertisement advertisement From businesses located in flood zones to property at risk from wildfire or sea level rise, the physical infrastructure holding up many companies is increasingly vulnerable to extreme weather and events driven by the changing climate. “Insurance companies are more hesitant to offer large [policies], rates are going up, overall it’s getting tougher and tougher for companies to protect their risk via an insurance policy,” says Louis Gritzo, vice president and manager of research at FM Global, a commercial insurer that’s been around since the 1830s. “That’s what we’re seeing this year. I don’t expect it’s going to go away.” With climate risks on the rise, some insurers expect that insurance premiums to protect against them will soon be unaffordable to most people. A recent report from McKinsey suggests the property insurance industry will need to significantly evolve to deal with the impacts of climate change. If businesses can’t insure their way to climate protection, Gritzo says, they’ll have to do it by design. That means… Read full this story
- Cashmere and climate change threaten nomadic life
- Climate change: what are the worst impacts facing America?
- Britain's water birds have declined by a QUARTER in 10 years as climate change leads to milder winters and endangered ducks and waders become more reliant on protected wetland sites
- A New Generation of Activists Is Taking the Lead on Climate Change
- Seeing the COVID-19 Crisis Is Like Watching a Time Lapse of Climate Change. Will the Right Lessons Be Learned? | Opinion
- Wings of the nightingale famed for its beautiful birdsong are SHRINKING due to climate change
- Trump rollback of mileage standards guts climate change push
- The Latest: EU: Wildfires show impact of climate change
- Zero Hour: There’s No Stopping Climate Change, But How Bad It Gets Is Still Up To Us
- Barack Obama to make climate change case to weather forecasters
Climate change is threatening your company’s building. Insurance won’t be enough to protect it have 356 words, post on www.fastcompany.com at December 4, 2020. This is cached page on Business Breaking News. If you want remove this page, please contact us.