Insurance Cost of Climate Change
Climate change could double or triple insurance costs
10th June 2004
The cost of insurance could rise dramatically in the future if plans to manage climate change are not put into action soon, according to the Association of British Insurers.
Recent years have seen record levels of winter storms, flooding, and summer heat, leading to a huge increase in insurance claims.
With all the signs pointing to increased extreme weather, the report calls for action to change building regulations so buildings are better able to weather storms, and flood defences to be strengthened all over the country.
Read More: Association of British Insurers
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More on Flood Risk Insurance : Lloyds : Global Warming Will Increase Insurance Premiums (News, 07/06/2006), Report Warns of Flood Risk Complacency (News, 12/10/2005), Flood Risk Insurance Under Threat? (News, 23/06/2004), New Flood-Risk Insurance System (News, 03/03/2004) |
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