'Climate Change' is too ambiguous to answer. What kind of climate change are you referring to? Have you seen any 'climate change' in your lifetime? Climate change is a long slow process, one lasting thirty years or more. That would give any industry a chance to adjust accordingly, if they had any intelligence at all.
Then you have people like 'Piltdown' who obviously doesn't understand the difference between weather and climate. Since the beginning of insurance, weather has always been a factor in insurance. The history of insurance, in the form we see it now, is based when English ships were prominent. The ship's owner would go up to an odds-maker and bet that his ship wouldn't make it. The odds-maker would then consider everything, including weather.
Anything might change the insurance industry, especially hype. I live in Kentucky. About twenty years ago there was some hype about the New Madrid fault going to cause a great earthquake. We live about three hundred miles from the fault and some fast buck insurance artists were out collecting as high as $1000 for a $150,000 home. Total profit, I might add, as nothing ever occurred. Now you can get earthquake insurance for that same home for less than $50. So how does anything affect anything when it comes to wagering? That is why they call it odds-making.
Climate change will have little to no effect; there has been no 'climate change' in at least 17 years. What does have an effect is the *perception* of climate change, which, without scientific evidence, has managed to convince a great number of people that massive disasters are just around the corner (they are not). The insurance companies are using the fear of increasing natural disasters to justifying raising their rates. When the feared disasters fail to materialize, the insurance companies will pocket the difference between the increased premiums and the not-increased loss rates.
Global Warming ended in 2012/ also earth's environment is in good shape. All non solids like gases, exhaust, co2, etc. separate into nothingness by nature naturally. All seasons have returned to normal naturally like it was before Global Warming in 1977. If man made climate change occurred in any way. all life on and in earth would be dead. Mike/ Global command
Insurance companies are out to make money, if they can find a way to increase profits they will do it.
Rising insurance costs do not always follow the rate of damage, they more often follow the costs of repair or rebuilding.
A excuse to raise rates based on failed climate models
Since there are fewer hurricanes, typhoons and tornados, it may cause them to drop insurance rates.
With respect to natural hazards!
