Climate change could make insurance too expensive!

Insurers are warning that their products could become unaffordable for ordinary people, as the world’s biggest reinsurance firm puts the blame for the £18bn bill it faces from the California wildfires firmly on global warming.

Munich Re’s chief climatologist (yes, they do employ one of them) told the Guardian: “If the risk from wildfires, flooding, storms or hail is increasing then the only sustainable option we have is to adjust our risk prices accordingly….Affordability is so critical [because] some people on low and average incomes in some regions will no longer be able to buy insurance.”

Read more in the Guardian