"Dave Burt, one of the “Big Short” investors who correctly anticipated chaos in the US #SubprimeMortgage market in the 2000s, said #InsurancPremiums for wildfire protection were just $1.5bn in 2021; damages were six times bigger. A move by insurers to close that gap could result in a drop of up to $495bn in property values, he said."

This entire article is, as it says, a "discomfort blanket", sketching out the ways various sectors can be devastated by #ClimateChange.

https://www.ft.com/content/899472a8-e5e2-4fde-bc91-7e548ba35294