Economic·The Guardian·YesterdayUnited Kingdom
Insurers Are Quietly Fudging Climate Risk
A whistleblower says catastrophe models are being manipulated to lower premiums.
Negative1 min readImportance
AI Summary
An anonymous insurance industry modeller reveals that insurers are deliberately underestimating climate disaster risks to keep premiums competitive, warning this could destabilise the global financial system when a major catastrophe strikes.
Keywords
climate riskinsurance industryrisk modellingnatural disastersfinancial stability
