Insurance companies rely on data and analyses. They have to make sure they collect more money than they have to pay out, so they have to estimate the impact of various personal and regional tragedies. The data haven’t been announced, but the narrative agrees with the apocalyptics, things can get far worse than just bad. One example of insurance companies’ reactions was their response to earthquake insurance after one of the major California quakes. They realized that “The Big One” would be so big that it would put them out of business. The response: curtail policies and raise rates, a lot. Because climate change is global, not local, the impacts will be that much greater and the insurance companies’ response much more considered.
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