How the Insurance Industry Is Dealing With Climate Change | Surprising Science

How the Insurance Industry Is Dealing With Climate Change | Surprising Science

From the article:

"On the whole, it seems likely that insurance premiums for houses and buildings in flood-prone coastal regions will go up to account for the shifts Muir-Wood is seeing. On the other hand, because of the complex impacts of climate change, we might see risks—and premiums—go down in other areas. There’s evidence, for example, that snowmelt-driven springtime floods in Britain will become less frequent in the future.

For his own part, Muir-Wood puts his money where his mouth is. “I personally wouldn’t invest in beachfront property anymore,” he says, noting the steady increase in sea level we’re expecting to see worldwide in the coming century, on top of more extreme storms. “And if you’re thinking about it, I’d calculate quite carefully how far back you’d have to be in the event of a hurricane.”"