Uninsurable
California wildfires , 2021
According to a new report by Bain & Company , the global cost of insurance premiums will hit $ 10trn by 2030 , and serious climatic events will become uninsurable by that date too .
Data suggests risk factors are shifting away from traditional areas and focusing on new challenges such as climate change , which looks set to increase economic losses up to ten-fold over the next 30 years , to a different risk outcome for customers in the future . The outcome means areas that suffer from climatic disaster , like the California Hills ( pictured ) will no longer be insurable . insurtechdigital . com 11