Uninsurable
The future is no longer insurable. That was the sobering message from Zurich Insurance, one of the world’s largest financial companies, at this week’s Sustainability Leaders Congress in Berlin. I had asked about the $160bn impact of natural disasters in 2018, of which only $80bn was insured. Apparently, rising climate risks – such as more frequent and intense storms, floods, droughts and fires - are becoming uninsurable. What does that mean? It means that if insurance companies tried to cover these risks (for businesses, citizens or cities), they would all go bankrupt. Can we declare a climate emergency yet?
— Wayne Visser
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From Purpose Inspired: Reflections on Conscious Living, Volume 1. Buy on Lulu ↗