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Insurance whistleblower says industry fudging climate risk numbers
Original: I work for a major insurer. Much of my industry is fudging the numbers in the face of the climate crisis
An anonymous catastrophe modeller at a major insurer has written a Guardian opinion piece claiming the insurance industry is understating climate risk. The whistleblower says insurers are taking on more exposure than their models justify, and warns that a major disaster could trigger far-reaching financial consequences across the sector.
Why now: Claims of systemic risk mispricing in insurance amid intensifying climate disasters strike at household costs and financial stability.
The Guardianinsurance industryanonymous whistleblower
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Evidence
- I work for a major insurer. Much of my industry is fudging the numbers in the face of the climate crisis · The Guardian
Insurers are taking on more risk than they should. If – or when – a major disaster hits, the catastrophe will have far-reaching consequences, says an anonymous modeller and whistleblower
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