Peter GleickMay 28, 2023

Climate change and extreme events are explicitly mentioned as a reason insurance companies are withdrawing from markets with skyrocketing risks.
Do you still deny #climate change, or don't want to act to address it?
The market is coming for you.

#climatechange

https://www.latimes.com/california/story/2023-05-27/state-farm-is-no-longer-accepting-property-insurance-applications-in-california?s=09

State Farm not accepting property insurance applications

The company blames 'increases in construction costs outpacing inflation, rapidly growing catastrophe exposure and a challenging reinsurance market.'

Los Angeles Times
Show threadDoug Baker - Elbows Up! 🇨🇦
@petergleick I’ve said that for years: insurance companies have been factoring climate change into actuarial thinking for a long time.
May 28, 2023 at 11:41pmWeb