That would seem to suggest that property insurers are taking climate change into account when underwriting policies. Oddly - at least to anyone who's not close to the insurance industry - insurers are not doing so, for the most part.

Even with the world increasingly gripped by concern over climate change, and despite insurers looking closely at the implications of a warming planet for their business, the industry appears to be pretty much in business-as-usual mode.

“There is work being done to incorporate climate risk as a reasonable consideration in pricing and reserves as an industry-standard best practice,” says Lindene Patton, an attorney and independent consultant. “But it’s not there yet.”

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