I work for a major insurer. Much of my industry is fudging the numbers in the face of the climate crisis | Anonymous
An anonymous insurance industry insider claims that firms are artificially lowering risk assessments related to climate change to remain competitive. The author warns that this practice threatens the stability of the global financial system as extreme weather events become more frequent.
Why it matters
It raises concerns about the integrity of financial risk modeling in the face of the escalating climate crisis.
Flooded streets in Brechin, Scotland, in the aftermath of Storm Babet in October 2023. Flooded streets in Brechin, Scotland, in the aftermath of Storm Babet in October 2023. Opinion Insurance industry I work for a major insurer. Much of my industry is fudging the numbers in the face of the climate crisis Anonymous Insurers are taking on more risk than they should. If – or when – a major disaster hits, the catastrophe will have far-reaching consequences
I work for a major insurer, assessing the risk posed by natural disasters on properties around the world, from family homes to schools, government offices and multibillion-dollar commercial centres. The world is facing greater risk than ever from extreme weather. We are not prepared – and that inaction could have profound consequences for the global financial system.
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