Extreme wet weather, climate change, arson attacks and cyber attacks are some of the top risks highlighted in the 14th annual World Economic Forum Global Risks, produced in partnership with Zurich Insurance.
The ClimateWise report recommends investors take more thorough inventories of housing and business real estate, and the construction materials used. They should also incorporate scientists’ climate projections into their own catastrophe models. Those were the conclusions a group run out of the University of Cambridge including some of the world’s biggest insurers. In a report published Friday, ClimateWise said that increasing catastrophes linked to climate change could triple losses on property investments over the next 30 years. The warning is the latest from the financial sector of the physical and financial risks posed by rising temperatures.
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