Insurers have no choice: Swim or drown

With extreme weather on the rise, insurers are caught between propping up the fossil fuel industry and increasing payouts for climate disasters.  The climate crisis is increasing the frequency, severity and unpredictability of extreme weather, increasing claims and making it harder to predict risk. As premiums are driven up, more customers are dropping out of the insurance market — and insurers’ customer bases are shrinking. Nowhere is this being felt more than in Australia, where the impacts of extreme weather, drought and bushfires are reaching Biblical levels. Over the last…