Climate change is 'hurting' insurers

STORY: Losses rose by 250% in the last 30 years from perils like wildfires and storms

Only 8% of insurers are ready for natural catastrophes, exacerbated by global warming

The main risk for firms used to be hurricanes in Florida and Texas, but that's changing

QUOTE: Seth Rachlin, Capgemini

"We've seen with the flooding in Europe and wildfires in Australia, wildfires in California, it's becoming a broader geographic issue, affecting a broader percentage of the earth."

Climate change makes it hard to insure some areas, say 74% of insurers

Some have pulled out of regions like California due to wildfire severity and frequency

European insurers are leading the way on ESG concerns, says Rachlin

Over 30% of insurers globally restrict investment in unsustainable firms

Over 20% now restrict actual cover for such companies

Over 4,900 customers in 16 countries and around 270 insurance execs in 27 markets were polled

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