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FT series: the Uninsurable World

Global insured losses from natural catastrophes exceeded $100bn for the fourth consecutive year in 2023 — and everyone is paying for it

Jewell Baggett sits on a bathtub amid the wreckage of the home built by her grandfather, where three generations of the family lived, reduced to rubble by Hurricane Idalia, in Horseshoe Beach, Florida, last August. “Mama didn’t have much, but God dammit, it was hers.” © REUTERS

The uninsurable world: rethinking how to cover for climate damage
Start-ups, legacy groups and policymakers are working out how to operate in areas of rising weather risks
The uninsurable world: what climate change is costing homeowners
Rising premiums are a de facto ‘carbon price’ on consumers as extreme weather events become more frequent
The uninsurable world: how the insurance industry fell behind on climate change
Surge in floods and fires has caught out the insurance industry and added an ‘uncertainty factor’ to premiums
Wanted: country risk officers to tackle climate threat
Insurance industry idea could help address protection gap for developing economies
Insurers face $151bn in yearly losses from natural disasters, report forecasts
Risk modelling firm says recent challenging years are not outliers
US home insurers suffer worst loss this century
Natural disasters, inflation and population growth prove toxic mix for industry

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