Tag: cat coverages

Climate Change Is Forcing the Insurance Industry to Recalculate

3D Rendering World Globe from Space in a Star Field Showing Night Sky With Stars and Nebula. View of Earth From Space. Elements of this image furnished by NASA Link https://commons.wikimedia.org/wiki/File:Whole_world_-_land_and_oceans_12000.jpg

When a wildfire engulfed the Canadian oil-sands boomtown of Fort McMurray two years ago, it hit insurance company Aviva PLC out of nowhere. The British firm had been active in Canada since 1835. Its actuaries long believed wildfire risk to homes in the area was almost nonexistent, it says. Yet flames on the town’s outskirts… Continue reading Climate Change Is Forcing the Insurance Industry to Recalculate