Insurance companies are feeling the heat of climate crisis
October 12, 2023
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Highlights from the GZERO World with Ian Bremmer weekly television show.
To understand how bad the problem of climate change has become, it helps to follow the money.
On GZERO World, Ian Bremmer breaks down the impact of climate change on property insurance premiums, which effectively quantifies the growing risk of catastrophic weather events. Last year alone, extreme weather damage cost the world a staggering $165 billion. Formerly once-in-a-generation weather events like the California wildfires of 2017 or Hurricane Harvey in 2018 are becoming more and more common, leading to devastating financial consequences for homeowners and hikes in insurance premiums.
Insurance companies are raising rates in high-risk areas like California, warning that soon, the state may be impossible to insure altogether. It’s another reminder that even though climate change has become a political issue, those with a financial interest in the impact of extreme weather can’t afford to be complacent. Sometimes, the coolest head in the room is the one stuck in the sand.
Every week on GZERO World with Ian Bremmer, Ian explains the key global stories of the moment, sits down for an in-depth conversation with the newsmakers and thought leaders shaping our world.
Watch GZERO World on US public television and on GZERO's YouTube channel. GZERO WORLD with Ian Bremmer is a local public television program presented by THIRTEEN PBS.
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